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When you are refinancing your mortgage the underwriter will need a value for your home.  Many people believe this value is the same as your County Appraisal District value, the same that is used for property taxes.  This is not true.  Instead there is a  separate appraisal ordered and this new appraisal decides your home's value.  The reason why is that the county appraisal district uses comparable home sales within the last 12-18+ to decide a value(per Fort Bend County Appraisal District).  Why the appraisal needed for your appraisal uses comparable homes sales within 3-6mths (depending on how many homes sales are available).  When refinancing keep in mind:

There are different appraisal forms

 

How to read your Appraisal

 

Refinancing to lower your payment or get cash out of your Property

 

 

 

David Krichmar 

Mortgage Banker/Broker

Schmidt Mortgage Company

Office:832-689-6012

David.Krichmar@gmail.com

www.DaveYourMortgageGuy.com

For More Mortgage Info Follow me at  Dave's Blog

 

If you are looking for a mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, The Woodlands, Montgomery County or anywhere in Texas I am your GUY!

Posted by David Krichmar on December 9th, 2010 4:01 PMPost a Comment (0)
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If you are looking for a FHA, VA, USDA, Homepath, Conventional, Jumbo, Construction, FHA 203k mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, Bellaire, West University, The Woodlands, Kingwood, Friendswood, Galveston, Clear Lake, Fulshear, Tomball, Spring, Conroe, Montgomery County or anywhere in Texas I am your GUY!


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