What Are Comparable Sales?
VA appraisers form an opinion of value for a VA home loan by using comparable sales which are the most similar homes that have sold most recently and are nearby your home. If the appraiser can’t find recent comparable home sales then the appraiser must use dissimilar homes in preparing the appraisal. That’s a big problem for most VA lenders. But, HomePromise is not that restrictive.
Does The VA Allow Loans for Home With No Similar Comparable Sales?
A VA Loan requires an appraisal. The appraiser has to find comparable sales (“comps”) to determine the value of the home. If there are none found then the appraiser must use the most similar homes that are available for the appraisal report. Many VA lenders won’t approve loans when good comparable sales are not found. In many cases, this is not a problem with HomePromise. Give us a call today to see if you qualify. For more information call 800-720-0250 to speak with a VA Loan & Refinancing Expert.
I just want to thank you very much for your work to help us refinance our loans. I know you had to do so much work for us and we really appreciate it. If I know anyone who wants to buy a home or refinance I will do my best to refer you to them. Again, thank you very much.
This company out did themselves in my expectations. They were not pushy; they waited on me and kept contact with me even when I wasn’t sure if I was going to be able to refinance. I had a wonderful experience and highly recommend them for your next mortgage needs!
My mother recently had a refinance with HomePromise. The process was easy for her (and I) to follow. The loan representative was very helpful and responsive for the entire process and explained everything. I would definitely recommend this company.
I am a Veteran and they helped me understand the best options with my VA loan. They were great all through the process. I will definitely be telling others about Home Promise.