In My Neighborhood in Wylie>Question Details

Jason, Home Owner in Wylie, TX

I'm trying to refinance my conv. loan to a VA, and I want my 1969 sq ft 4 bdrm/ 2 bath house to be appraised for over $147,000. Possible?

Asked by Jason, Wylie, TX Mon Apr 30, 2012

My home is located on Enchanted Forest Dr and was built in 2006. It has no upgrades.

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5
Don Groff’s answer
Hi Jason,

It is possible. I just refinanced a client from a conventional loan into a VA loan. When he originally purchased the home he used builder financing to get some promotions and they did not do VA. You will be capped at a 90% LTV but other than that it should not be a problem if all else checks out.

Call me if you would like to discuss. I am a Tier 1 Wholesale Broker with Wells Fargo (and many other lenders). This allow me to offer rates much lower than using a retail branch of the same lender and you also get a free one time float down once locked. So if rates drop before funding we can float you down to the current rates at no cost to you.

Call or email me if you have any questions.

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes Thank Flag Link Tue May 1, 2012
What you want what a property may appraise for are to different issues. The lender will send out their appraiser .


Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue May 1, 2012
Do you know your tax assessed value? While not always accurate as to value it gives you a starting point. You can call a local Realtor in Wylie and ask if they would do a brief CMA (competitive market analysis for you) - it is easy to do and they won't charge you (or shouldn't). Let me know if you need assistance finding someone.
0 votes Thank Flag Link Tue May 1, 2012
Hopefully one of the realtors here will contact you for an exact address and look at the comparable sales for you. Hopefully it will be a local realtor


Tom Burris
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DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
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Lending all across the entire Great State of Texas!!
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0 votes Thank Flag Link Mon Apr 30, 2012
I am not a mortgage specialist but I can't imagine any reason why you couldn't refinance a conventional loan with a VA loan. I would be curious as to why you would want to. Typically people use their VA loan to avoid having to make a down payment on the loan. Whether your house could appraise for $147,000 or not would depend on the condition of your home and how the market is in your area. I would recommend you find a good Realtor in your area that can run a Comparative Market Analysis for you. This can tell you what you could expect to get for your property should you decided to sell. If you have any other questions please feel free to call me at 843-789-9860 or visit me on the web at http://www.JoshCalvertRealEstate.com
0 votes Thank Flag Link Mon Apr 30, 2012
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