Sentences with phrase «on appraised value of the property»

The actual amount in each case depends on appraised value of the property in question.

If you wish to give the property outright, you qualify for a charitable income tax deduction based on the appraised value of the property.

The lender will give the loan based on the appraised value of the property, and if the appraisal comes in low, you may decide to cancel the loan.

Further, if the investor in the above example seasons his property, that is owns the property for more than a minimum amount of time (6 months - 12 months is usual), then it may become possible for him to refinance based on the appraised value of the property rather than the lower of appraised value or cost.

The reason is the traditional sources firstly verify the borrower's income, decide the loan amount on the appraised value of the property and then go through a number of procedures to grant the loan.

The fact that your property is rented quickly at the highest rental rate in the neighborhood has little to know impact on the appraised value of the property.

Not exact matches

If your property value has gone up, your cancellation request may be denied based on the fact that your payments haven't reached 20 % of that current appraised value.

So you can think of the appraised value as one person's informed opinion, based on property and market conditions.

The calculation is based either off the appraised value or the original sales price, depending on the length of time the borrower has owned the property.

The Commissioner may lower the property sale requirement below 95 percent of the appraised value based on market conditions.

This has a negative effect on property values, and it could drag down the appraised value of your home as well.

Many of them limit total indebtedness on a property to 80 % of its current appraised value.

• For streamline refinance transactions WITHOUT an appraisal, the CLTV is based on the original appraised value of the property.

A home's appraised value is based on such factors as square feet, number of bedrooms, number of bathrooms, the location and age of the property, and interior improvements.

All lenders assess the LTV ratio in an effort to determine the level of exposed risk they take on when underwriting a mortgage, calculated as the delta between the property's appraised value and the total amount borrowed.

Remember that when qualifying for the mortgage you're the down payment is based on the sales price or appraised value of the property, whichever is less.

It is not uncommon for the appraised value of a property to be exactly the same as the amount stated on your sales contract.

For newer homeowners, their loan amount will be limited to 85 % loan - to - value based on the lesser of the new appraised value or the sales price of the property when acquired.

Depending on the project you have in mind, you are now able to potentially borrow up to 120 % of the appraised value of your property!

If your property value has gone up, your cancellation request may be denied based on the fact that your payments haven't reached 20 % of that current appraised value.

If you put anything less than 20 % down on a home that you purchase you will be required to pay PMI, or Private Mortgage Insurance, until the loan balance is 80 % or less of the property's appraised value.

After dividing the value of loans by the appraised price of a home, our lenders will loan up to 85 % LTV on the property.

This number is figured by dividing the amount you owe on your mortgage by the appraised value of the property.

Appraised value takes a more objective approach determining the value of property based on the experience and knowledge of a qualified appraiser.

Rates or points provided in pre-qualification or pre-approval letters do not take into consideration possible adjustments based on evaluation of: member's credit score, Loan - To - Value, Combined Loan - To - Value, subordinate financing, occupancy, appraised value, down payment, property type, property use and loan purValue, Combined Loan - To - Value, subordinate financing, occupancy, appraised value, down payment, property type, property use and loan purValue, subordinate financing, occupancy, appraised value, down payment, property type, property use and loan purvalue, down payment, property type, property use and loan purpose.

Most people understand that the appraised value of a home depends on many factors like location and property condition.

• The age of the borrower, or of the age of the younger spouse; the older the homeowner, the more money the homeowner is eligible to receive • The appraised value of the property, minus the cost of any health or safety repairs required to bring the home up to code • The lending limits (where applicable); lending limits vary on a county by county basis • Interest rates, which are determined by the U.S. Treasury or LIBOR Index • The payment plan selected by the borrower

Lenders have to calculate a value known as Loan to Value (LTV) ratio, which is equivalent to the value of existing debts on a property divided by the current appraised vvalue known as Loan to Value (LTV) ratio, which is equivalent to the value of existing debts on a property divided by the current appraised vValue (LTV) ratio, which is equivalent to the value of existing debts on a property divided by the current appraised vvalue of existing debts on a property divided by the current appraised valuevalue.

The amount you get depends on how much equity there is left after all debts have been subtracted from the appraised value of the property.

Home equity lenders will lend on a property up to 85 % of its appraised value.

This metric is gained by dividing the total of loans on a property with its appraised value.

Appraised Value — An opinion of the property's fair market value, based on an appraiser's inspection and analysis of the propValue — An opinion of the property's fair market value, based on an appraiser's inspection and analysis of the propvalue, based on an appraiser's inspection and analysis of the property.

The amount borrowed when calculating a home equity line of credit loan is normally 75 % to 80 % of the property's appraised value minus the outstanding balance on the mortgage.

The loan - to - value ratio (LTV) is calculated as the amount of all mortgage and equity liens on your property divided by the appraised value of the property, expressed as a percentage.

Home equity is the difference between the current market (appraised) value of your home and the outstanding balance of your mortgage and all other liens on the property.

Default insurance required for all financing over 80 % of appraised value of vacation home and in some cases, depending on the property type and other factors, for financing over 65 % of the appraised value of vacation home.

She also requests a tax certificate, a status certificate to ensure that common element expenses are paid to date, a proper appraised value of the property and a request for an assignment of the rent registered on title to ensure rent can be collectable by the lenders in the event of default on rental property.

A short sale is when the seller of a property owes more to their mortgage lender than what a buyer is willing to pay for the property based on appraised and market values.

If we ignore the commercial side and just look at our properties considered residential from a mortgage perspective, we pay just shy of $ 4500.00 / year in premiums on an appraised value of ~ 1.45 million.

For reverse mortgages that are subject to the Rule, a loan originator's compensation may be based on either (a) the maximum proceeds available to the consumer under the loan; or (b) the maximum claim amount (if the mortgage is an FHA - insured Home Equity Conversion Mortgage subject to 24 C.F.R. part 206), or the appraised value of the property, as determined by the appraisal used in underwriting the loan (if the mortgage is not subject to 24 C.F.R. part 206).

Appraised Value An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the propValue An opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the propvalue, based on an appraiser's knowledge, experience, and analysis of the property.

So you can think of the appraised value as one person's informed opinion, based on property and market conditions.

The appraised value is based on comparable sales, the condition of the property, and several other factors.

To determine the market value as well as the replacement cost of any structures on your property, a county assessor will appraise your home every five years.

The issue will be especially severe for those who carry a significant mortgage (as a percentage of the home value) in retirement, who will be subject to the new 2.5 % upfront MIP on the entire appraised value of the property (and even for those whose reverse mortgage financing would be less than 60 % of the Principal Limit Factor, the new upfront MIP will be 0.5 %).

Of particular concern to home builders: the impact that appraisals in deals involving foreclosed homes, short sales and distressed real estate has had on the real estate market, particularly when appraisers use these properties as comparables for brand new homes — doing so, brings down the appraised value of the new home unfairly and inaccuratelOf particular concern to home builders: the impact that appraisals in deals involving foreclosed homes, short sales and distressed real estate has had on the real estate market, particularly when appraisers use these properties as comparables for brand new homes — doing so, brings down the appraised value of the new home unfairly and inaccuratelof the new home unfairly and inaccurately.

Appraised values are based on the most recent prices of comparable properties, and in a subdivision the comparable properties are right next door.

I have been told that if I sold one of my inherited properties, I would have to pay taxes only on the amount that is above the appraised value and not the total sale.

Improvement costs can't exceed 5 percent of the property's value (not to exceed $ 8,000) or $ 4,000, whichever is greater based on appraised value.

The aggregate principal balance (s) of all mortgages on a property divided by its appraised value or purchase price, whichever is less.