Lucky for the mortgage industry and our borrowers, last year Fannie Mae and Freddie Mac started allowing Appraisal Waivers for loans that meet a certain criteria.
In this episode I discuss the ins and outs of an appraisal waiver, it is perfect for you to share with your buyers to help them better understand the process and what goes into their property getting an Appraisal waiver!
Spoiler Alert: There is no set guideline for obtaining an appraisal waiver. It is a combination of loan to value, credit score, debt to income ratio and what their online comps say about your property.
All that wrapped up in a nice bow is what give you an appraisal waiver. Check out this episode to learn more!
You can catch the full video below!