LIFamilies.com - Long Island, NY


RSS
Articles Business Directory Blog Real Estate Community Forum Shop My Family Contests

Log In Chat Index Search Rules Lingo Create Account

Quick navigation:   

when does the bank's appraiser come?

Posted By Message

Kara
Now Zagat Rated!

Member since 3/07

13217 total posts

Name:
They call me "Tater Salad"

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?

Posted 7/24/07 8:19 AM
 
Long Island Weddings
Long Island's Largest Bridal Resource
  |   Prudential Douglas Elliman Real Estate

Kara
Now Zagat Rated!

Member since 3/07

13217 total posts

Name:
They call me "Tater Salad"

Re: when does the bank's appraiser come?

Anyone?

Posted 7/24/07 10:11 AM
 

ali120206
2 Boys

Member since 7/06

17790 total posts

Name:

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!

Posted 7/24/07 10:19 AM
 

MrsSteflily
I love chocolate

Member since 4/06

2047 total posts

Name:
Stef

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.

Posted 7/24/07 12:27 PM
 
 

Potentially Related Topics:

Topic Posted By Started Replies Forum
beware of BANK OF AMERICA!! NoStressMom 3/1/06 13 Home
Does anyone have their Mortgage via Suffolk County National Bank? peabody 2/24/06 0 Families Helping Families ™
can i use commerce bank coin redemption with no account there? 04bride 2/24/06 4 Families Helping Families ™
Bank of America- Keep the change LisaW 2/21/06 23 Families Helping Families ™
Do bank branches compete?? KPtoys 2/13/06 2 Families Helping Families ™
Home appraisals from the bank.... LIBOUND 1/31/06 3 Home
 
Quick navigation:   
Currently 34895 users on the LIFamilies.com Chat
New Businesses
1 More Rep
Carleton Hall of East Islip
J&A Building Services
LaraMae Health Coaching
Sonic Wellness
Julbaby Photography LLC
Ideal Uniforms
Teresa Geraghty Photography
Camelot Dream Homes
Long Island Wedding Boutique
MB Febus- Rodan & Fields
Camp Harbor
Market America-Shop.com
ACM Basement Waterproofing
Travel Tom

      Follow LIWeddings on Facebook

      Follow LIFamilies on Twitter
Long Island Bridal Shows