Property Appraisal and Mortgage Approval

Covers: Appraisal of a property on the lender’s receipt of the borrower’s mortgage application; Understanding the loan-to-value ratio (LTV); Private mortgage insurance (PMI); Conditional approval of a mortgage application; The borrower’s need to shop around for the most favorable mortgage…

Property Appraisal and Mortgage Approval

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Covers: Appraisal of a property on the lender’s receipt of the borrower’s mortgage application; Understanding the loan-to-value ratio (LTV); Private mortgage insurance (PMI); Conditional approval of a mortgage application; The borrower’s need to shop around for the most favorable mortgage terms

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