Client Story Thursday

Posted on 04 August, 2016

As told by Kris Crawford, Partner & Broker at Innovative Mortgage Solutions.

I was contacted recently by a young couple who was looking for debt consolidation options to accommodate their growing family. They had applied and been denied for refinancing on three separate occasions from three different lending institutions, and were worried that they were running out of options.


After discussing the details of their previous refinancing applications with the young couple, I discovered that in all three instances, their financing was rejected due to unsatisfactory home appraisals. They explained to me that their home was actually worth much more than it was being appraised for and that they were being provided with desktop appraisals. This meant that an appraiser was actually not being sent to look at their property in person, rather they were assessing their homes value based on industry standards.


While this type of appraisal can work in some cases, it can also disregard important factors that increase the value of a home. I contacted an appraiser to conduct an on-site assessment of the couple’s home, and because of our relationship with this particular appraiser, we were able to communicate to them what was being missed in the previous appraisals.
Once the appraisal was complete, the couple was delighted to learn that the new appraisal came in at over $100,000 more than their previous appraisals. This number was a more accurate reflection of what their home was actually worth, and this new appraisal value allowed these clients to easily qualify for mortgage refinancing.


This client story is just one example of how we strive to develop positive professional relationships with your entire mortgage team – from your appraiser, to your lender, to your lawyer. This means that we can more easily handle any potential issues that arise throughout the mortgage process, leaving you with the time to focus on the bigger picture without worrying about losing your mortgage financing. Contact our team today to let us do the work for you!


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