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whats the best rate i can get if i dont want to pay for an appraisal

whats the best rate i can get if i dont want an appraisal
  • January 09 2013 - Hartford
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Answers (6)

Pay for the appraisal. You will be paying an up front fee of 350-450 but you eliminate mortgage rate adjustments the lender will use to cover the cost. The savings of a lower interest rate over the amortization cycle of a loan will always exceed the cost of the appraisal. Or your loan is streamline eligible and an appraisal waiver is allowed... :) Otherwise I don't suggest waiving the appraisal and adjusting the rate higher unless a borrower plans on selling the house in five years or less... Most of the time though, a lower rate is always more beneficial to a borrower.
  • January 09 2013
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Email me the details.  I can waive the appraisal fee on any loan.
  • January 09 2013
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Your rate will depend on so many things!

Sometimes you can get a rebate for your appraisal fee if you choose a slightly higher interest rate.  
  • January 09 2013
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The same rate that you have on your existing loan.   (Unless you have a loan eligible for Streamline or Appraisal Waiver)

  • January 09 2013
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That's going to depend on several different factors such as your credit score, loan amount, assets, and current equity.  Do you know what type of loan you currently have? Is it conventional or FHA? There's programs that don't require an appraisal. On the other hand, if one is needed, there are lenders out there that would be happy to cover the appraisal cost for you.
  • January 09 2013
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There are only a few loans that can be done w/out an appraisal, hit the post reply button and explain what type of loan you are doing.
  • January 09 2013
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