It is the responsibility of property appraisers to assess the market value of a property during the loan process. Property appraisal is important for the lender but can lead to issues when it comes to underwriting so it’s good to be prepared. CM
The home buying process is very detailed and your lender will take all the necessary precautions before finalizing a deal. There will be a home appraisal to determine the value of the property and also a underwriting to help determine any financial risk on the lenders end.
After you apply for a home loan the prospective lender will use the underwriting process to determine your eligibility for the loan. Depending on your financial history this could be a major hang up as most institutions don’t want to issue a bad credit loan and will likely deny your application. So make sure to check your…
Property appraisers are tasked with figuring out the market value of a property before loans are finalized. The property appraisal step is important and can often lead to complications for underwriting. Learn more on our website and stay in the know with RDS Real Estate! CM