Avm-drive By Appraisals

cassie701 · #1 (**permalink**) 02-10-2007, 01:40 PM

Which lenders allow for a loan amount of $250K and approx value of $650K?

florida man · #2 (**permalink**) 02-10-2007, 11:58 PM

hi cass

i know that chase prime offers AVMs on ficos over 660 .

cassie701 · #3 (**permalink**) 02-11-2007, 03:26 PM

Thanks! I will contact my rep tomorrow!!! I hope you had a great weekend and a week full of closings!!!!!!!!!!!

brendo927 · #4 (**permalink**) 02-12-2007, 08:20 AM

Countrywide does AVM deals as well, I dont think their pricing would be as competitive as Chase though.

GLOAT · #5 (**permalink**) 02-12-2007, 02:56 PM

Depending on how strong of a deal, Homecomings DU may approve w/appraisal waiver

brendo927 · #6 (**permalink**) 02-12-2007, 03:56 PM

I closed a deal in Florida once with First Franklin with their AVM deals. I don't know if they are still offering them but it definetly got the deal done.

The lady had water damage in her kitchen from leaks in the ceiling. When I had a normal apprasial done they took pictures of the damage basically killing the deal right there.(she was takin out cash to fix it). Her fico wasn't high enough to go to Countrywide so I got it closed with First Franklin no problem.

GLOAT · #7 (**permalink**) 02-12-2007, 03:58 PM

That'll be 50 "Hail Mary's" for your confession.

cassie701 · #8 (**permalink**) 02-13-2007, 08:08 PM

I went with Suntrust/Crestar. They ran it through DU and we received a PIW and do not need any type of appraisal at all!!!