Here are the typical fees for property appraisals used in the home loan process:

VA Loans = $400 (set by VA)

FHA Loans = $450

Conventional Loans = $455

Investment Properties = $600

Just remember, these fees will likely fluctuate between lenders.

Under a law passed by the Texas Legislature, as of September 1, 2011, homeowners who apply for a new property tax homestead exemption must provide proof to the county appraisal district that they live in the house they claim as their principal residence. House Bill 252 requires a copy of the homeowner’s Texas driver’s license or state identification card and the homeowner’s vehicle registration receipt be sent with the homestead exemption application. If the homeowner does not own a vehicle they can send a current utility bill showing name and address, along ...

Just about every loan program requires an appraisal to verify the value of the subject property that is being used as collateral for the new loan. The appraisal is typically paid for by the buyers and is ordered by the lender providing the financing. When the appraisal comes back, with whom are those results disclosed? It is our policy to inform all parties involved that the appraisal has been received and has “sufficient value” to continue with financing. If there are required repairs, we mention that as well. But, the appraisal itself, including the appraised value and all ...

As I write this blog post, fires are still raging in Bastrop, Texas.  It is a horrible tragedy and fire damage is unbelievable.  For the unfortunate buyers in the process of purchasing or refinancing a house in the Bastrop area, things only get worse.  When the fires were first reported, lenders started requiring a re-inspection of properties prior to closing.  Now, with such devastating damage, lenders are requiring a brand new appraisal if the current appraisal was completed prior to the start of the fires.  With the potential of comparable ...

Nowadays an appraisal is typically needed for all home loans, but aren’t VA “streamline” refinance loans meant to be “streamlined” and not require an appraisal? Yes, that’s correct; however, most investors who fund these VA refinance loans are now requiring appraisals. For our investors, it depends who your current lender is as to whether or not we will require an appraisal on a VA Streamline Refinance Loan. In the case where an appraisal is required, your home will need to appraise for an amount that covers your new loan, including ...