What is an Appraisal ?

Appraisal is a document that gives an estimate of a property's fair market value. An appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property. The appraisal is performed by an "appraiser" who is typically a state-licensed individual trained to render expert opinions concerning property values. In an appraisal, consideration is given to the property, its location, amenities as well as its physical conditions.

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© 2010, Profolio Home Mortgage Corp. Loans made by Profolio Home Mortgage Corp., Headquartered at 3701 Briarpark, Suite 150, Houston, TX 77042 . All loans subject to credit, underwriting and property approval. Available loan products may vary by state. Stated, low documentation and no documentation loans may not be available for every product in every state.
Not all borrowers will qualify and this is not a commitment to lend. Terms and programs subject to change without notice. For some loan products, minimum loan amount is $50,000 ($10,000 in Michigan).
Home loan products may involve appraisal, title search and other fees, but there is no cost to obtain details or apply.