Zillow Advice: Home Buying - Appraisal http://www.zillow.com/advice-thread/Appraisal/14444/ Zillow Advice | Zillow Real Estate I am running into an issue ... http://www.zillow.com/advice-thread/Appraisal/14444/ I am running into an issue with trying to put a pool in on my first <a href="http://www.zillow.com/mortgage/">mortgage</a>. House is $310,000 and pool is $50,000 (includes spa, built in grill, 36' lattice cover over entire patio, actual patio itself, etc.). I need the <a href="http://www.zillow.com/mortgage/">loan</a> for $360,000 (not a problem qualifying) and plan on putting 20% down. This would mean that I only actually need a loan for $288,000. My loan lady is saying that the appraisal with the pool is only going to come in at $340,000, so I can't either get the pool in on this loan, or I have to only get a $30,000 version. What does it matter what the appraisal comes in at as long as it is over $288,000 (the amount I would actually borrow). Can anyone explain this to me? Tue, 11 Dec 2007 04:22:00 GMT http://www.zillow.com/advice-thread/Appraisal/14444/ 2007-12-11T04:22:00Z An appraisal is supposed ... http://www.zillow.com/advice-thread/Appraisal/14444/ An appraisal is supposed to protect the <a href="http://www.zillow.com/directory/lenders/">lender</a> so that they don't lend more money than the house is worth and protect the buyer so that you don't pay too much. If the buyers offers more money than the house is worth then the appraisal will bring the price back down to where it should be. Tue, 11 Dec 2007 04:12:00 GMT http://www.zillow.com/advice-thread/Appraisal/14444/ 2007-12-11T04:12:00Z Why would we want a full ... http://www.zillow.com/advice-thread/Appraisal/14444/ Why would we want a full appraisal? Does it really matter? Mon, 10 Dec 2007 22:25:00 GMT http://www.zillow.com/advice-thread/Appraisal/14444/ 2007-12-10T22:25:00Z Maybe it got a PIW instead ... http://www.zillow.com/advice-thread/Appraisal/14444/ Maybe it got a PIW instead and he is trying to save the money?? Mon, 10 Dec 2007 22:07:00 GMT http://www.zillow.com/advice-thread/Appraisal/14444/ 2007-12-10T22:07:00Z yes, have them do a full ... http://www.zillow.com/advice-thread/Appraisal/14444/ yes, have them do a full appraisal. I hate when they do that. What in the Hell are they getting paid for. they don't charge any less to do one. <br/><br/>A guy did a drive by appraisal on a house I had listed. Can they see tile floors, granite counters, or anything like that?<br/><br/>this guy missed the Koi pond in the front yard. haha Mon, 10 Dec 2007 21:59:00 GMT http://www.zillow.com/advice-thread/Appraisal/14444/ 2007-12-10T21:59:00Z Your loan officer sounds ... http://www.zillow.com/advice-thread/Appraisal/14444/ Your <a href="http://www.zillow.com/mortgage/">loan</a> officer sounds either misinformed or just ignorant. Mon, 10 Dec 2007 21:52:00 GMT http://www.zillow.com/advice-thread/Appraisal/14444/ 2007-12-10T21:52:00Z