Financing in De Pere>Question Details

Jcnchip, Other/Just Looking in De Pere, WI

Does anyone know if homes have been coming in with a higher appraisal value than the price the home would sell for? (For a refi)

Asked by Jcnchip, De Pere, WI Fri Oct 30, 2009

I am looking to refinance and am deciding between a Homes Made Affordable refi which does not require an appraisal but costs points to participateand a conventional 30 year refi. I am right on the cusp of LTV. Does anyone know if homes have been coming in with a higher appraisal value than the price the home would sell for?

Help the community by answering this question:

Answers

3
Jcnchip’s answer
Trish, check out this link: http://makinghomeaffordable.gov/eligibility.html

I am going through Countrywide/Bank of America, but I know most of the major lenders participate, as well as the local banks such as M&I. It is also been referred to a HARP refi. Just call your lender to see if you qualify. We did our primary home in MI, and were trying to do our rental in WI.
0 votes Thank Flag Link Sat Oct 31, 2009
We are in this situation! Have a home in Stephenson, and want to get in on the low rates to refinance, but are afraid the appraisal will come in low. Does anyone know what the northern WI market is like? Our home is about $205,000 and we want to finance 150,000. I am having a hard time finding comparables.

Where is the "homes made affordable" thing you are talking about. I have never heard of that.

Thanks!
0 votes Thank Flag Link Sat Oct 31, 2009
Appraisals are really difficult at present because of the ruling that the lender submits to an appraisal group, cannot pick their regular people. So, if you get someone not familiar with your area or who is extremely cautious, the value for your property could be well under its true worth. Rarely do appraisals come in high, that is not our market right now.
0 votes Thank Flag Link Fri Oct 30, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer