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when does the bank's appraiser come?
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Kara
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Member since 3/07 13217 total posts
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They call me "Tater Salad"
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when does the bank's appraiser come?
At what point during the purchase process does the bank send the appraiser? Before or after contract?
Is it possible to change your mortgage type at that time?
Example - You opt for an 80/10 mortgage over a 90% mortgage with PMI. If the house appraises for so much that you could have gotten away without PMI, will your lender allow you to take the full amount as a regular mortgage without PMI or the need to take the loan as 2 separate mortgages?
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Posted 7/24/07 8:19 AM  |
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Prudential Douglas Elliman Real Estate
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: when does the bank's appraiser come?
Anyone?
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| Posted 7/24/07 10:11 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
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Re: when does the bank's appraiser come?
Our appraisal was done after the contract.
I'm not sure about the answer to your other question though, sorry!
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| Posted 7/24/07 10:19 AM |
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MrsSteflily
I love chocolate
Member since 4/06 2047 total posts
Name:
Stef
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Re: when does the bank's appraiser come?
Ours was after the contract but before the mortgage committment, since the appraisal will help to determine what type and amount of mortgage we can get.
We are able to change the type of mortgage anytime up until closing.
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| Posted 7/24/07 12:27 PM |
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