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Updated 12 months ago on . Most recent reply
Lender waived the Appraisal for a luxury STR purchase!
It's been a very long time since I had an appraisal waived for a buyer obtaining financing but just received surprising news today!
I work for/with a very investor focused lender and they support many of our luxury STR and second home coastal purchases for my client's in Oregon & California and they just waived the appraisal for a $800K purchase!
Testament to the strength of the Oregon Coast market and that there are incentives for very well qualified borrowers & quality properties.
Loan should be CTC within a week of contract and investors enjoying the property and filing their STR permit application for Summer..
Rate on a 30 year fixed was in the high 6%'s...big job's report tomorrow that could accelerate rate cuts..stay tuned!
- AJ Wong
- 541-800-0455
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#4 All Forums Contributor
- Lender
- The Woodlands, TX
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#4 All Forums Contributor
- Lender
- The Woodlands, TX
No better indication that the market has reached the top and prices are downhill from here
- Don Konipol
