Low Appraisals: What are the solutions?

With record home prices set every month, the chances of an appraisal coming in below the contractual purchase price is a major possibility. This week we've put together a video to help our clients and Realtor partners understand the 3 common solutions to an appraisal coming in below value. Fortunately, as a top producer at Prospect Mortgage, we have an appraisal liaison who can review, assess, and approve a second appraisal within 24-48 hours. 

Our team very rarely has low appraisals come back, however, it is good to know that we have you covered! 

HOMEBUYER PREP 101: What happens if your appraisal comes back lower than your purchase price? Here are your options...

Posted by Prospect Mortgage Los Feliz on Wednesday, March 2, 2016