Posts Tagged "basement"

Home appraisal value with basement finish?

on Mar 10, 2013 in Unique Loan Programs | 2 comments

Question by sac_baby_girl: How do I handle my taxes as a stripper/independent contractor? I want to do it legally and so that I can start building good credit and be accpeted for a home loan. Please send me a link to a site or something that will help! Thanks. Best answer: Answer by Smilin’ FredCheck with a tax accountant. What do you think? Answer below! March 2013: Today's FHA Rates Hovering Near Historic Lows Story summary: Today's FHA loan rates are still hovering near historic lows. This week, side effects our lender survey showed that some FHA lenders are offering rates in the neighborhood of 3.5%, for a 30-year fixed FHA mortgage. Economists have predicted the … More informaiton please visit here… Mortgage Rates: Low Rates Push Mortgage Applications Higher Today's FHA 30 year fixed mortgage interest rates are as low as 3.250%, FHA 15 year fixed mortgage rates are as low as 3.000% and FHA 5/1 ARM loan rates are as low as 2.250%. FHA mortgages have increased in cost to the borrower, but guidelines still … For more informaiton please visit here… Question by Sonia: How to buy a house with no or bad credit!? Me and my husband recently got married and we are trying to buy a house because we think its cheaper to buy a house the. To rent can someone give us some tips on what we can do to buy a house with no or bad credit please thank you! Best answer: Answer by Rarriyes, buy work hard, approved save ur money and pay for it in full with cash…. Add your own answer in the comments! Question by Shellybelly: Home appraisal value with basement finish? I am a mortgage underwriter, prostate and have a couple questions for an appraiser. I want to refinance my home, advice but I pulled the comps and there weren’t many in the value range I am hoping for. There are several which have 100-200 more above ground living space, sildenafil with some varying finished basement square footage. Basement living space is common for the area. My basement is already divided into 4 rooms. One is an unfinished laundry with a stall shower. The other three rooms have concrete flooring, a mixture of drywall/wood paneling walls, and ceilings. One room could be a family room, one of the rooms has a closet, but no egress window, but I am assuming this won’t make a huge difference since it can’t be included in bedroom count regardless, so all I can really get is the below grade square footage. The fourth room is finished the same as the potential family room/room with closet, but it has the fuse box on the wall. If I finish this room as well, could it be included in the square footage as livable space? Planning on painting everything, adding flooring (carpet or laminate sub-floor), trim. Two of the three rooms in question have ceiling lighting, the third has wall sconce lighting. I just would like to get another opinion before I do all the work. I’d like to do a straight refinance versus the Home Affordable Refinance Program, because I have a purchase money second mortgage, which would be ineligible for modification. My only holdback on getting the refinance is what I think the value would be with the limited comps in the past 12 months. I’m an underwriter- not an appraiser. I don’t know how to write an appraisal and necessarily know if they would consider a room with a fuse box on the wall living space or a utility room. Why...

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