Can you use an appraisal I already have?
We may be able to use an appraisal ordered by another lender, however we will not be able to use an appraisal ordered independently by yourself. Our quality control policies prohibit us from accepting an appraisal from another lender that has been produced by an Appraisal Management Company (AMC) that is not on our pre-approved Appraisers List. Empire’s AMC appraisers will complete the assignment within stated timelines and be a true representation of current market value for the subject property.
Related FAQs
- How long does it take for the appraisal to be completed?
- What is an appraisal and who completes it?
- What is the cost of the appraisal and how is it collected?
- If my property’s appraised value is more than the purchase price can I use the difference towards my down payment?
- If my property’s appraised value is more than the purchase price can I use the difference towards my down payment?
- Will you lend on homes that require repairs?
- Will I need an appraisal to get a mortgage?
- Are there any special requirements for loans on condominiums?
- When do you require flood insurance on a property?
- Do you provide financing for mobile homes?
- Do you provide financing for lots or large tracts of land?