Appraisal requirements are changing

By on Oct 29, 2014

For the better! Finally, some common sense is coming back into the marketplace. Previously, if your appraisal was older than 90 days old you were required to pay for another one. That was a waste of $450 and up, but now lenders are accepting updated versions of the same appraisals if there was no material change in value or condition. This not only saves ally of time it also saves money.

If your loan is taking longer than expected and your appraisal is about to expire ask your mortgage professional if instead of getting a new appraisal g tying an update. Try it, it may work.