Mortgage Loan 101: Your Appraisal

If you're in the market for a mortgage, learn the basics will help you avoid making most common mistakes that can cost thousands of dollars. Here's what you should know about the assessments and your guides. Assessment of your home is an estimate of the value of the house is prepared by an authorized assessor. The estimated value of the house is based on recent sales in your neighborhood and the sale of similar homes in your area. The expert will also assess the physical condition of your home by inspecting the house inside and out. The mortgage lender will use this value to determine your estimated loan-to-value ratio. The loan-to-ratio of the value of your home is simply a comparison between the value of your home for the amount of mortgage loan you are requesting. Most lenders prefer to loan-to-value ratios below 80 percent. To calculate your loan-to-value ratio simply divide the amount of the mortgage loan is required for the estimated value of your home and multiply by 100. Before you have your home assessed for recommendations you might ask experts in your area. Your realtor should be able to recommend a good expert, or you can contact the licensing agency of your state government for a list of approved evaluators in your area. To learn more save on your mortgage loan, to register a free guide guide using the link below. To get your free mortgage guide Visit RefiAdvisor.com using the link below. Louie Latour specializes in showing homeowners how to avoid common mistakes and guide predatory lenders. For a free copy of "Mortgage Refinancing: What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com. Claim your free guide today at: http://www. refiadvisor.com Apex Mortgage Refinance Article Source: http://EzineArticles.com/?expert=Louie_Latour