no appraisals needed

A common misconception is that an appraisal is always required when applying for a mortgage.  While some banks will always require an appraisal, depending on the type of loan that you are applying for, our lenders do not.  We have access to special government refinance programs that don't require an appraisal such as HARP and the FHA streamline refinance program.  Also, some conventional loan applications come out of underwriting without the need of an appraisal.  It is determined by an automated underwriting system known as desktop underwriting (DU) or loan prospector (LP) that we use and our lenders accept.   It takes into consideration the strength of your loan application as well as the sales data in the immediate area compared to the estimated value of your house.   This is for purchases as well as refinances.  This can save you time and money and allow for a much faster closing.