Will I have to get an appraisal?

All home purchases and a majority of all refinance loans require an appraisal to be completed prior to the loan closing. The bank or lender has to protect their investment at all times and the way they do that is to make sure your home, or potential home, is worth equal to or greater than how much you are borrowing.

Certain refinance transactions that have exceptional circumstances and well qualified borrowers can require downgraded appraisals called drive by appraisals or, even have the appraisal waived. Ask your Infinity Financial Group loan consultant if your refinance would potentially qualify.