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Appraisal Value

Opinions or value estimates based upon knowledge, experience, and a study of pertinent data, appraisals are sought from qualified individuals with no financial interest in the loan transaction.

Appraisals are used to verify:

  • Value of a property to be purchased, refinanced, or improved
  • Value of land to be used in new construction
  • Value of property used toward a down payment, such as the market value of rental prices from an income property

Published values are used to estimate the value of a personal property you plan to sell to fund a down payment. Examples include:

  • Automobiles
  • Recreational vehicles
  • Stamp, coin, or baseball card collections

Tips for a smoother application process

  • Make sure documents are clear and legible.
  • Don't alter any pages (no strikethroughs, cross-outs, etc.).
  • Send all pages, even the blank ones.