Appraising

So You Qualify For A PIW…Now What?

Recently Fannie Mae and Freddie Mac have begun offering PIW's (Property Inspection Waivers) to certain borrowers under certain conditions. This enables the lender to provide a home loan without having an appraisal completed for the loan. Why? It really comes down to risk. Borrowers who meet certain criteria have a low risk of defaulting on their… Continue reading So You Qualify For A PIW…Now What?

Appraising

Bank Appraisals vs. Private Appraisals…What Makes the Most Cents?

What’s the difference between a “Bank” appraisal for lending vs. a private appraisal? If an appraiser appraises a home for a lender and on the same day performs a second appraisal of the same property for private party, will the values be different?  I recently had a client tell me that their real estate agent said that bank appraisals… Continue reading Bank Appraisals vs. Private Appraisals…What Makes the Most Cents?