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To secure the highest possible refinance appraisal, it’s important to take steps to get your home ready to show off. Most people — appraisers included — look favorably on a clean and well ...
Myth #6: Home equity loans always require an appraisal. An in-person home appraisal used to be a standard requirement for financing, allowing for an unbiased licensed appraiser to assess the true ...
Why do lenders require home appraisals for a refinance? Lenders obligate you to get a home appraisal prior to a mortgage refi for several reasons, among them: The appraisal allows the lender to ...
There's a new trend underway: Lenders like U.S. Bank, Bank of America and Discover are increasingly saying goodbye to traditional appraisals for their home equity loans and home equity lines of ...
To refinance a mortgage, you’ll pay between 2 and 5 percent of the loan amount in closing costs, so if you’re refinancing to save money, you’ll need to calculate your break-even point.
The best reason to refinance a home equity loan is if interest rates have dropped since you borrowed the first time. Just be sure to consider your timeline for staying in the home, be aware of any ...
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