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Is there a fee for an appraisal waiver?

by chapma_664_521 from Okatie, South Carolina. Jan 23rd 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

The fee is $75, however some lenders make you pay it as part of your costs, and other lenders will pay it on your behalf as well as other costs, but at a higher rate.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jan 24th 2013
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

Yes. If you are doing a conventional loan and an appraisal waiver is offered, a fee of $75 is assessed by Fannie or Freddie, in lieu of having to pay for an appraisal. This fee is usually passed on to the borrower. If you are doing an FHA (or VA)streamline with no appraisal, FHA and VA do not charge such a fee and you should not be charged for one either ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Jan 24th 2013
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Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

No. Happy to help you directly if you want. Just email me or give me a call!

Jan 23rd 2013
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Lorne Harvey (lorneharvey)
#77 ranked lender in Washington - 439 contributions

Some lenders do charge a $75 PIW (appraisal waiver fee for the HARP loan), and others do not. Depends on the lender.

Jan 23rd 2013
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Ken Burrows (mortgagesforamerica)
#19 ranked lender in Nevada - 572 contributions

Yes most lenders will charge a $75 Appraisal Waiver fee. Anymore than that isn't correct.

Jan 23rd 2013
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Edgar Aranda (earanda)
#755 ranked lender in California - 93 contributions

Most lenders do. There is a good amount that does not.

Jan 23rd 2013
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Steve Azarch (sazarch)
#18 ranked lender in Tennessee - 93 contributions

Yes, a lot of lenders charge $75.00

Jan 24th 2013
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Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Yes and No. Yes, there is a charge of $75 but you may not get charged for it.

Jan 24th 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

Depends on the lender whether or not their is a fee, it also will depend on the program.

Jan 24th 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

YES... Fannie Mae and Freddie Mac both have the appraisal waiver fee that most lenders will directly pass on to you as one of your closing costs. The fee is $75. www.HARP-Refinance-MN.com

Jan 24th 2013
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

The Fannie Mae fee is $75.

Jan 24th 2013
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Andrew Alfonso (CashCow)
#43 ranked lender in Florida - 271 contributions

yes, when refinancing a HARP (aka DU Refi Plus) loan. "Desktop Underwriter accepts the value submitted as the market value for this subject property ..... A fee will be charged to exercise this waiver." This fee is aprox $75. Andrew

Jan 24th 2013
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Linda Miller (Linda Miller)
#2 ranked lender in Utah - 572 contributions

No, not generally but some lenders may charge a fee. Call around in your local market. For the most part I am not aware of a charge in Utah but not sure about other areas of the country.

Jan 24th 2013
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