Equity 123 Lending

Appraisals

Mortgage options refer to the various choices available to homebuyers when selecting a loan to finance their property purchase.

Appraisals

Appraisals refer to estimating a property's value, considering various factors such as location, size, condition, amenities, and market conditions. Accredited appraisers, licensed professionals with expertise in property valuation, conduct thorough assessments to determine an unbiased appraisal value.

Importance of Real Estate Appraisals

  1. Accurate Valuation: Appraisals provide an unbiased and expert evaluation of a property's value, ensuring that buyers and sellers have a realistic understanding of its worth. This prevents overpricing or underpricing, facilitating fair transactions.
  2. Lender Protection: Lenders, such as banks or mortgage companies, rely on appraisals to assess a property's collateral value when granting loans. Appraisals protect lenders from financing properties worth less than the loan amount, reducing the risk of financial loss.
  3. Investment Decisions: Investors utilize appraisals to make informed decisions about purchasing, selling, or renovating properties. Appraisals help them identify potential opportunities and mitigate risks by accurately assessing the property's value in relation to market conditions.
  4. Property Tax Assessment: Local governments use appraisals to determine property tax values. Accurate appraisals ensure fair tax assessments, preventing individuals from overpaying or underpaying property taxes.

Benefits of Real Estate Appraisals

Real estate appraisals offer a range of benefits to various stakeholders involved in property transactions:

  1. Buyers: Appraisals provide buyers with confidence in their purchase decisions. They ensure that the property is priced fairly and can be a negotiating tool during the buying process.
  2. Sellers: Sellers can benefit from appraisals by gaining insight into the fair market value of their property. This knowledge empowers them to set an appropriate asking price and attract potential buyers more effectively.
  3. Lenders: Appraisals protect lenders by independently assessing the property's value. This allows lenders to determine suitable loan amounts, interest rates, and loan-to-value ratios
  4. Real Estate Agents: Appraisals assist real estate agents in setting realistic listing prices, guiding clients on competitive offers, and streamlining the overall selling process.

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20% Down payment
Perfect Credit
Interest Rates
Finding A House
30-Year Fixed-Rate Mortgages

20% Down payment

Risk Factors

You need 20% down to purchase a home.

Solution

This isn't true. If you take out a conventional loan, you can buy a home with as little as 3% down.

Perfect Credit

Risk Factors

You won’t need a credit check.

Solution

Credit plays a significant role in your ability to get refinancing. However, borrowers with an excellent credit profile are rewarded with the lowest interest rates.

Interest Rates

Risk Factors

Mortgage interest rates are the same no matter what lender you work with.

Solution

The truth is that rates can vary from lender to lender. So for your financial safety, you should shop around when looking for a mortgage loan.

Finding a house

Risk Factors

Find a house, then worry about a mortgage.

Solution

This is terrible advice at any time, but in a hot seller’s market like today’s, believing this myth can lead you to miss out on a home altogether.

30-Year Fixed-Rate Mortgages

Risk Factors

A 30-year fixed-rate mortgage is always the best choice

Solution

If you can afford higher payments, you can own your home outright in less time and for less money with a 15-year fixed-rate mortgage.

Equity 123 Lending

Equity 123 Lending is a licensed mortgage broker.

All loans originated by Equity 123 Lending are funded by third party lenders. Equity 123 Lending INC, and Equity 123 Lending, LLC. are authorized to do business as “Equity 123 Lending” in certain states.

Equity 123 Lending is an equal housing lender.
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cedric@equity123lending.com949 306-6602
22512 Aliso Park Drive
Lake Forest, California 92630
NMLS ID #2033794
NMLS ID For California #2476839
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Disclosure:
The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply. Mortgage loans may be arranged through third party providers.
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