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Proposal to reduce need for appraisal for government backed mortgages
**Picture from Housingwire.com**
For Government backed mortgage loans, Federal Regulators are proposing to decrease appraisal requirement for homes $400,000 or lower. The current threshhold is $250,000. That would mean that certain homes up to $400,000 might not require an appraisal. That would cover approximately 40% of homes sales.
Currently an appraisal costs around $600-$700. So if this new proposal passes, that would help reduce the costs to obtain a mortgage.
To learn more details, click on the "Read More" link at the bottom of this page.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service
For Government backed mortgage loans, Federal Regulators are proposing to decrease appraisal requirement for homes $400,000 or lower. The current threshhold is $250,000. That would mean that certain homes up to $400,000 might not require an appraisal. That would cover approximately 40% of homes sales.
Currently an appraisal costs around $600-$700. So if this new proposal passes, that would help reduce the costs to obtain a mortgage.
To learn more details, click on the "Read More" link at the bottom of this page.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service
