Review Your Property Appraisal for Accuracy

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about How to Apply for a Mortgage and other Mortgages topics.

Can a poor property appraisal hurt my mortgage application?

Review Your Property Appraisal for Accuracy

A poor property appraisal can affect your mortgage loan application. In fact, this could be the reason your mortgage loan is denied. If this happens, get a copy of the property appraisal from the lender or mortgage broker. Make sure that the information in the appraisal is accurate.

An appraiser, by law, cannot consider racial composition of a neighborhood as a factor in his or her report. Likewise, a lender cannot raise mortgage interest rates because of the racial composition of a neighborhood when you are buying a home.

   

Comments

Nobody has commented on this tip yet. Be the first.



Name:


URL: (optional)


Comment:


Not finding the advice and tips you need on this Mortgages Tip Site? Request a Tip Now!


Guru Spotlight
Byron White