What is a Home Appraisal and how do home appraisals work?

What is a Home Appraisal - Paramount Equity®

Even if you’ve gone through the process of purchasing real estate several times, you may still ask yourself, “how do home appraisals work?” Briefly, a home appraisal is an expert’s evaluation of how much a property and its structures are worth. To further explain the concept, it’s helpful to understand some of the reasons behind obtaining this type of assessment.

Affect on Mortgage & Lending

Probably the most common reason for having a home appraised is because it impacts the amount a lender is willing to loan to purchase a property. A buyer might have the best credit in the world, and have come to agreement with the seller on a price. Even so, the bank will not automatically loan funds without knowing the value of its collateral. If the home (more…)

Read More »

How Home Appraisals Work

paramount_equity_appraisal

When it comes to figuring out how much a piece of real estate is worth, an appraisal is the most effective way to determine value. If you are confused about how home appraisals work, you are definitely not alone. There are several misconceptions about this industry that make it seem complicated to the average person. Once you understand how this process works, you’ll see exactly how mortgage lenders come up with the numbers they use for your home loan.

Home Appraisals 101 Continue Reading >>

Read More »
Copyright © 2003-2017 Paramount Equity® Blog. All rights reserved.
"Paramount Equity®", "Paramount Equity Mortgage®" and "Savings Made Simple" are trademarks of Paramount Equity Mortgage®, LLC.
   

Paramount Equity Mortgage®, LLC is licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, License #4170047; Arizona Mortgage Banker License #0922160, NMLS# 30336; regulated by the Colorado Division of Real Estate NMLS# 30336; Connecticut - Connecticut Mortgage Lender License # ML-30336; D.C. - Mortgage Lender License #MLB30336; Florida Mortgage Lender Servicer License # MLD 898; Kansas - Kansas licensed mortgage company License # MC.0025206; Maryland - Mortgage Lender License # 21172; Nevada Mortgage Banker License #3919; Licensed by the N.J department of Banking and Insurance NMLS#30336; Oregon Mortgage Lender License #ML-3256; Texas – Paramount Equity Mortgage®, LLC NMLS #30336; Utah DRE Mortgage Entity License #6967176; Washington Consumer Loan Company License #CL-30336; and Wisconsin – Wisconsin Mortgage Banker License #30336BA; NMLS ID #30336.