Why do I need home comparable sales before paying for an appraisal?
Why should I search for the value of my home?
Where can I find a free home value estimate?
Why can't my loan broker provide the comparables to the appraiser?
What does my LTV have to do with my interest rate?
Why do I need to pay PMI?
Why do I need a professional search for my comparable sales?
Need answers to these questions? Need some unbiased guidance?
Currently there are so many Loan Programs out there that it's hard to know what program you will qualify for. Do I quality for an 80% loan, a 105% loan, or a loan modification ??? So many questions...
Comps4California is a full service provider of Comparable Home Sales Reports. We provide you with current and accurate home sales in your neighborhood that meet the current underwriting and Fannie Mae guidelines. The searches are generated and analyzed by a team of professionals who have been in the appraisal business for 25-years. We search for the best and most appropriate sales that are similar to your property in age, gross living area, and location.
Before you spend $500 for an appraisal, be pro-active and get the facts. Know the range of value for your home so you can make an educated decision before spending money on an appraisal. Know what loan program you'll qualify for before spending money on an appraisal.
LTV: Why pay a higher interest rate for the life of the loan because you received a low ball appraisal? The fact is, your interest rate is determined by your Loan-To-Value (LTV). If you have a high LTV then you pay a higher interest rate which can add $100's of dollars to your monthly payment. Get your facts; know the true range of value for your home so you can get a better interest rate.
PMI: Why pay Private Mortgage Insurance (PMI) because you receive a low ball appraisal? Mortgage insurance is required for any loans above 80% LTV. So if you have a low appraisal and your LTV is above 80% you'll have the added expense each month for mortgage insurance. Knowing your true range of value can help eliminate PMI and save you $100's of dollars each month. Be pro-active and get your facts before it's too late.
WHY CAN'T MY MORTGAGE BROKER PROVIDE THE COMPS? Comps4California will provide you with a detailed Comparable Sales Report that lists all of the appropriate sales in your market area. Due to the new laws, your mortgage broker can no longer talk to the appraiser or supply them with comparables that are appropriate. However, you as the homeowner have the right to provide appropriate sales to your appraiser at the time of the inspection. Take advantage of this opportunity to discuss the value of your property with the appraiser. This is the only chance you'll have to make a difference. Our Comparable Sales Report will provide you with the necessary data so the appraiser understands that you're educated about the value of your home and you have the data to back it up. Be ready, get the facts and be pro-active.
