When refinancing a mortgage can a specific appraiser be used or will the appraisal company depend on the lender?
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When refinancing a mortgage can a specific appraiser be used or will the appraisal company depend on the lender?
Question: I’m looking to get a refinance to remove mortgage insurance from…
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Question:
I’m looking to get a refinance to remove mortgage insurance from my loan, but I’m worried about how much my home will appraise for. If I get the appraisal for my target number, then I can get mortgage insurance removed. Can I find an appraiser? Does the appraiser depend on the lender? Can the lender even pick the appraiser?
Answer:
Lenders have to use appraisal management companies to have the appraiser assigned. They’re not able to pick and choose their own appraiser.
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