Just a quick question. When you get the appraisal value back, how do you know if the amount is good? If it meets or is above the price of the loan or is it some other combination? We just got our appraisal back, but I don't know how to determine if it's okay or not.
Yes, at minimum, the lender will require that the appraisal figure is enough to cover the value of the loan. And, lenders will feel even more secure the more above the loan value it is.
