Sinnen Green & Associates
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Sinnen-Green and Associates strongly supports the strict enforcement of laws against dishonest and incompetent appraisers. Under the new program established by the U.S. Department of Housing and Urban Development (HUD), appraisers must pass a comprehensive examination and submit an application to be included on the Federal Housing Administration (FHA) Roster of Approved Fee Appraisers. HUD then reviews each applicant's past performance before approving them. Every one of our appraisers has passed the examination and has been placed on the FHA Roster of Approved Fee Appraisers.

   
   
 

The purpose of appraisals varies. Despite the reasons, Sinnen-Green and Associates want to make sure you receive a quality and fair appraisal. Here are a few common situations in which you may require/desire an appraisal:

 

the purchase of an existing property, ordered by the mortgage lender
new construction, ordered by mortgage lender
refinancing an existing loan, ordered by mortgage lender
additions or remodeling, ordered by mortgage lender
relocation, sponsored by employer but ordered by transferee
estate valuation, ordered by attorney or executor of the estate
elimination of mortgage insurance, ordered by the homeowner
divorce, ordered by an owner or their attorney

 

Just as the purpose of appraisals varies, so do the types of properties that we are able to appraise. We appraise

 
 


• Full (URAR)
• Exterior Only (2055)
• Condominiums and Townhouses
• Small Multi-Family 2-4 Units
• Investment Properties
• Vacant Land
• Mobile and Modular Homes
• 2075's
• Desk and Field Reviews
• Estate Planning
• Tax
• VA appraisal (availability varies by location)
• and more!

 
 

Private Mortgage Insurance (PMI) is designed to protect the lender in case of default. PMI payments range from $25 to $150 or more per month. Most homeowners are paying for PMI, but many of them do not have to pay.

Most mortgage companies allow homeowners to drop PMI if they have

   

• had the mortgage for at least 2 years,
• a good credit history,
• and a loan balance that is 80% or less of the appraised value.

How can you tell if your loan balance is 80% or less of the appraised value? Divide your current mortgage balance by the orignal mortgage amount plus equity. You can calculate equity by adding improvements, additions, and the increase in property values.

Normally all that is required to stop paying mortgage insurance is an appraisal. Most lenders allow homeowners to obtain their own appraisals, and Sinnen-Green and Associates has the experience and knowledge to assist you!

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