Step 3 –  A critically important component for lenders is knowing the value of the collateral being used for your loan. This is your appraisal.  A state licensed independent appraiser is assigned from our appraisal panel to measure, take photos, and complete your appraisal assignment.  This can take anywhere between 1-4 weeks which is why we’re getting started up front!  

YOUR ACTION: If able, please do whatever you can to help accommodate appraiser access to the home as quickly as possible.  Appraisers want to help and are often delayed due to unreturned phone calls and emails trying to access the property.  If you have specific information/documentation about unique features of the property like added square footage or custom upgrades its helpful to have this readily available for appraiser at the time of inspection.  Appraisers are bound by a professional and ethical code of conduct and any attempt to impact their independent valuation is a violation of AIR (https://singlefamily.fanniemae.com/media/4711/display)

LIGHT HOUSE LENDING VALUE ADD: We are monitoring the appraiser timeline from the day an appraiser accepts the assignment to when the inspection is scheduled to when the report is scheduled to be completed.  We’ll keep you in the loop along the way and stay on top of any issues or concerns so you don’t have to.  Everybody loves a high appraisal on their home.  Occasionally low appraisals happen to.  If that’s the case we’ll regroup and discuss available options.  We’re in this together!