New No Cost Appraisal for Conventional Loans | $525 Appraisal Credit
Now available, an appraisal credit of $525 for all conventional loan programs including high balance loans, which means less cash to close. This appraisal credit applies to both purchasing and refinancing saving borrowers hundred of dollars by offering a no cost appraisal. The $525 appraisal credit is credited at closing making it a no cost appraisal. This offer started on August 28, 2018 and the loan needs to close by December 31, 2018.
No Cost Appraisal for Conventional Loans
This appraisal credit comes with some of the most competitive rates in the country, the ability to close in less than 15 days, and down payment programs as little as 3%. Appraisals are ordered through appraisal management companies and can choose ordering an appraisal from these three appraisal management companies:
- Class Appraisal
- Average appraisal is done in less than 5 business days.
- First Look Appraisals
- Appraisal Nation
- Ask about other options.
This appraisal credit cannot be applied towards an appraisal rush, but these appraisal management companies have a fast turnaround time. Your appraisal must be ordered by a Mortgage Loan Originator after an application is taken and all proper documentation is signed to stay compliant.
Conventional Loan Programs that the Appraisal Credit Can be Applied to
No cost appraisal with HomePossible and Home Ready with as little as 3% down.
- With the HomePossible loan program the maximum loan-to-value is 97% for one unit properties, condos, and planned unit developments.
- Available financing up to 95% loan-to-value for 1-4 units for primary residence.
The Home Ready loan program does not require a borrower to be a first time homebuyer and financing of up to 97% for one-unit properties.
High balance conventional loan program with conventional rates up to $679,650
- Refinancing a home up to 97% loan-to-value with all conventional loan programs.
This appraisal credit applies to all conventional loan programs.