An appraisal is an unbiased opinion of the value of your property. It is required when you buy, sell, or refinance your home. The appraiser will use “comparables”, or recently sold homes within your direct area, to make an accurate value estimate of your home. First, it is important to understand what the appraiser is looking for. Here is a condensed list to give you an idea. General condition of the home The home's location The age of the home The home's exterior The design

What is a Reverse Mortgage?* A reverse mortgage is a national program available to homeowners age 62 and older providing you access to your home’s equity without having to make monthly mortgage payments. This program is available for your primary residence. You must continue paying your property taxes and homeowners insurance. How much can I qualify for?* The amount of funds available through a reverse mortgage loan is based on the youngest spouses age and the appraised val

It is very important to know your terms before applying for a mortgage . Bookmark this tab on your computer so that you can reference these terms at any time before or during the mortgage process. Appraisal : A rough estimate of how much the home is worth. Appraisals are required by lenders before a home loan can be signed. The appraisal tells the lender how much can be loaned to the borrower. Appraisals come from an independent third party, not the lender. Principal: The s