When it comes to a property appraisal, most 125 percent home equity loan lenders do not require you to obtain one.
They generally will use the purchase price of your home as the value if you have lived in your residence for 12 months or less.
If you have lived in your home over 12 months, a recent tax assessment, simple drive-by appraisal, or automated value model (avm) can be used.
An avm is a computer generated assessment of your home's value which is based on recent home sales of comparable houses in your neighborhood.
For more information on 125% home equity loans, or to compare rates and programs of 125% home equity loan lenders visit http://www.equityloansource.com
Levetta Rivera is a successful mortgage broker and publisher of the following financial websites: http://www.equityloansource.com and http://www.militaryvaloan.com
Article Source: http://EzineArticles.com/?expert=Levetta_Rivera
No comments:
Post a Comment