Appraisal transfer from FHA lender to non-FHA lender?
I'm in a bit of a pickle.
We are trying to close a deal on a property but we recently switched lenders. We initially were working with an FHA lender (Chase bank) but there were some issues with the underwriting and that lending wasn't able to go through. We ended up having to go with a different non-FHA lender. The terms are much worse but we plan on refinancing asap once we close this purchase.
The issue is that we now need to request an appraisal transfer from Chase to our new lender. Our previous Chase loan officer said that they are not able to to appraisal transfers to non-FHA lenders. Does anyone know if this is true? Is there anyway we can get that appraisal transfer? We would really like to avoid having to redo a new appraisal and start this process all over again.
Any information would be greatly appreciated, thank you.