Homeowners need appraisals or appraisal reviews for a variety of reasons, including a mortgage refinance, home equity loans, pre-listing services, and PMI removal. When you order an appraisal or review from InterIsland Appraisal, you can rest assured that you will get the best in professional service, courtesy, and quality.
Refinance / Home Equity
Be sure that you request us if your lender asks you for YOUR choice of appraisal firms. More than likely we are already on their "approved list", and if not we will quickly provide your lender with the necessary documentation for placement on their approved appraiser list.
For-Sale-By-Owner(FSBO) / Pre-Listing Services
It's very hard to be objective about your own home because of your emotional attachment to it. A Professional Appraiser is objective and will tell you what you need to know, not just what you want to hear. In addition to helping you set a realistic selling price so your home will attract buyers, a professional appraisal is very valuable as a negotiating tool once you have a potential buyer. It gives you something concrete to show your buyer. It's an independent third party's opinion of your home's value, and not just your opinion how much your home is worth. Potential buyers know you have an emotional attachment to your home and will be far more likely to give credibility to a an independent professional appraiser's value opinion of value over that of the seller.
PMI Removal Appraisals
Private Mortgage Insurance or PMI is the supplemental insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home. Very often, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal paydown - dips below this 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met. At InterIsland Appraisal, we are experienced in helping homeowners, just like you, to rid themselves of unneeded and unwanted PMI insurance.