Step 5. – Your appraisal is complete and you’ve been emailed a copy for your records.
YOUR ACTION: Appraisals pack a TON of information about the square footage and marketability of your home and we encourage you to keep this document on hand for future reference. The bottom of page 2 of 6 indicates the “sales comparison approach” which is the home appraised value. It’s important to see in the same section that the appraisal was made “as is” to avoid any extra work needed to the home and follow-up visits by the appraiser
LIGHT HOUSE LENDING VALUE ADD: At this stage we’re receiving title work and home insurance figures back from your closing attorney and home insurance agent. This important info enables us to start zeroing in on your estimated cash due at closing. We’ll be sending you an initial Closing Disclosure confirming the costs associated with your loan transaction a minimum of 3 days before closing. This allows some breathing room to ask any further questions and avoid any surprises on closing day!