For Homeowners

For Homeowners

Homeowner Appraisal Services Homeowners will need to get appraisals or appraisal reviews for a variety of different purposes, including but not confined to a mortgage refinance, home equity loans, Pre-listing services, and PMI removal initiatives. When you order an appraisal or review from us, you can rest assured that you’ll get the greatest in professional service, politeness, and quality. Refinance / Home Equity Be sure to consider Appraise Colorado Inc should your loan provider ask you for your own selection of appraisal companies. More than likely we are already on their “approved list”, and if not we will quickly supply your loan company with the necessary paperwork to get approved and join their board of qualified appraisers. For-Sale-By-Owner (FSBO) / Pre-Listing Services It’s very challenging to be objective towards your own home because of your emotional attachment to it. A certified Appraiser is independent and will show you what you need to know, not only what you desire to hear. Along with assisting you to set a feasible price tag so that your home will attract buyers, a professional appraisal is very useful as a settling device once you have a potential buyer. It offers you something concrete to show your buyer. Now you have an independent third party’s opinion of your house’s value, rather than just you claiming how much money your property is worth. Hopeful buyers know you’ve got an emotional attachment to your home and will also be much more inclined to give credibility to a professional appraiser’s value opinion than your own. PMI Removal Appraisals A popular money saver for homeowners nowadays is to get...
What is PMI and How to Get Rid of It

What is PMI and How to Get Rid of It

What exactly is PMI and how can I get rid of it? Real estate lenders are a curious lot. It seems they’re willing to offer just about anyone money. Assuming a half-way decent credit rating, any potential home buyer can secure financing for a house. Why? Because these transactions are guaranteed by a very precious asset: the home itself. If a customer defaults on a home loan, the risk for the provider is often only the difference in the worth of the property and the amount outstanding on the mortgage, less the figure it costs them to reclaim and resell the house. As a result, lenders are very cautious about financing higher than a specific portion of a home’s value. Traditionally, this has been eighty percent. The buffer this gives the lender helps ensure that their deficits from foreclosures are kept to a minimum. In the last few years, conversely, it is progressively more common to see home buyers using down payments of 10, 5 or even 0 percent. Of course, financing this much provides the lenders with much more risk. To offset this threat, these transactions often require Private Mortgage Insurance or PMI. This supplemental policy protects the bank in case a debtor defaults on the loan, and the value of the property is less than the loan balance. PMI has become a large money maker for the mortgage loan providers. The cost of this insurance – often $40-$50 per month for a $100,000 house – is often combined within the mortgage payment. Due to the size of the entire charge, this additional charge is often unnoticed. Homeowners...