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At the end of the day, Pascoe says the process is not all that different than purchasing a home with a conventional mortgage. A lot of the misconceptions about working with VA loans center on the VA appraisalprocess – which differs from conventional mortgageappraisals – as well as the time it will take for a transaction to close.
“Mortgage rates are expected to rise, but still remain attractive and reasonable. The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”.
CDEI, MNAA Excerpts: Typically, this time starts when the comparable goes under contract, then ends on the effective date of the appraisal. . The changes are meant to streamline the appraisalprocess by removing a layer of oversight. The announcement marks a significant change regarding appraisal reviews.
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