we have about $18,000 in available equity. The addition is likely to exceed that amount. Do you know if a mortgage company will lend you more than your home is appraised at for an addition since the value of the home will increase when the addition is complete?
We are constructing a new house. Community is relatively new. In this community few houses have be depreciated this year. Is it possible that when we appraise our home, after construction is complete, the appraised value can be lower than the combined land cost and building cost ? In this case can we back out [...]
I was planning to sell the house when I first got into the 5/1 arm but home prices went down, I was stuck. the 5 year is up and rates went up. I lost my job and can’t make the higher payments, I talk with the loan company and they say my dept [...]
When looking at property records, it seems that most houses have a much lower assessed value than what the home actually appraised and sold for. Why is this?
For instance: A home is appraised for $100,000, yet the county’s assessment of the property is only $69,000.
I am a 1st time buyer / new home owner who hasn’t even made the first payment yet “Sept. 1st”. I have PMI on my mortgage that I would like to get rid of as soon as possible. Most lenders require a year or two as good payment history before you can drop PMI. I [...]