Appraisal Report Analysis

When an appraisal is obtained, the underwriter must analyze the

  • current contract for sale for purchase money transactions,

  • current offering or listing for sale for both purchase and refinance transactions when the home was listed for sale,

  • comparable sales for both purchase and refinance transactions, and

  • current ownership for the subject property

The underwriter is responsible for validating that

  • the property meets Homium’s eligibility criteria (see General Property Eligibility, for eligibility requirements); and

  • the appraiser has provided an accurate and reliable opinion of value that reflects the market value, condition, and marketability of the subject property in compliance with Homium’s requirements.

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