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Anybody offering a refinance where an appraisal is not a requirement? Want to refi my loan that closed in May 2013.

by araceli_08611 from St. Paul, Minnesota. Oct 27th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,789 contributions

Much more info required.. If your current loan is FHA, VA or USDA, then it's possible to do a refi without an appraisal. But for conventional, unless you have some very strong compensating factors, and loads of equity, then more than likely, you will need an appraisal. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Oct 27th 2015
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Nik Green (NikGreen)
#67 ranked lender in Minnesota - 6 contributions

Do you have any FHA loan? Please contact to discuss. Thanks,Nik GreenNMLS # 1080243

Oct 27th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,439 contributions

There are a few options... If you have an existing FHA, VA, or USDA loan, I can refinance you with no appraisal. But other than that, if you have an existing conventional loan closed in May 2013, you will need an appraisal in 99% of the cases. It is super rare, but with a full file, a lender can run your application through automated underwriting, and you might get super lucky and get an appraisal waiver... But again, maybe 1% of extremely well qualified applicants with low loan-to-value might get that.

Oct 27th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

The only options where that is likely is if it is already a VA, FHA or USDA mortgage AND you are getting the same type of mortgage again. Otherwise an updated appraisal is almost certainly going to be required.

Oct 27th 2015
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Joe Becker (JoeBecker)
#60 ranked lender in Minnesota - 55 contributions

We can run some scenarios for you. Do you plan to take cash our or just a rate term refi? Also, value vs. what you owe will be key. Yes, there are options to refinance without an appraisal. Call me any time today. 651-636-2840 NMLS 109946

Oct 27th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,106 contributions

If you have a VA, USDA or FHA loan, you may have an option. Otherwise, you would have to get an appraisal done. I suggest speaking with one or two local loan officers to see what your options are.

Oct 30th 2015
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