Construction Loan Appraisal Problems

In this lesson, we cover everything a homebuyer needs to know about the VA appraisal, including the process, property requirements, pitfalls, termite inspections, water quality checks, appraisal fees, challenging a low appraisal and the differences between the VA appraisal and a home inspection.

FHA and VA construction loans are in the deep end of the mortgage pool. Make sure you are working with a loan officer that understands the program.. In a previous VAntage Point post, or builds an uncommon home, the appraisal may come in lower than needed for a zero down payment.

NAHB urges Congress to act on homebuyer tax credit extension, credit and appraisal issues – The National Association of Home Builders (NAHB) has called on Congress to help housing take a lead role in putting America back to work by taking quick action to extend and enhance the $8,000.

Appraisal is $30,000 less than construction cost (cheapest. – We are in the process of getting a construction loan from one of the nations big banks (local branch). The loan officer ordered the appraisal of the new home (plans) and the property. When we received a copy of the appraisal is was $5,000 less then we (the bank and me) figured it should be.

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Construction Loan Appraisals – e-constructionloans.com – For a construction loan, the appraisal is done from the plans and cost breakdown. To call it a "future value appraisal" is a misnomer in some ways since the comparable sales reflect the current market, and no attempt is made to peek into the future.

VA Home Inspection Checklist. Nearly every home buyer has heard that you need for a home inspection when you buy a home. Buyers wanting to use their VA home loan benefit are no exception. In fact, VA home buyers should have a home inspection checklist ready to hand their home inspector.

Bad loans jump at Bay State banks – The small bank generated a net loss of $2.8 million in 2008 after problem construction and land development loans eroded its capital cushion. He said property values are leveling off and real.

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Home Construction Loan Appraisal Below Cost–Advice. – re: Home Construction Loan Appraisal Below Cost–Advice Appreciated Posted by CajunTigerBabe on 10/18/12 at 3:03 pm to BoudinJoe If the bank believes the comps were bad, then they can contest the value and have the appraiser provide some additional comps.