THE BRRRR METHOD AND REFI

3 Replies

When Trying to refinance a house, using the 3rd Step of the BRRRR method, if the home appraises for lower ARV than expected after the rehab and seasoning period can you go through a different lender and get a second appraisers opinion to possibly get a higher ARV? Or do you have to stick with the first appraisers value?

@Deja Williams , you can go to another lender or even another appraiser. However, before doing so you should make sure that the value you believe to be correct is justified. If it is indeed justified, contact the appraiser to understand how he got his value. If you have a compelling argument, often an appraiser will make an adjustment. If you are getting a new appraisal simply to roll the dice for a higher value, save your money and accept that your initial estimate was off.

Regardless of appraisals it's always a good idea to shop lenders and mortgage brokers. Different lender have many different tolerances, options, rates and LTV thresholds