Home mortgage interest rates remain at low levels, and if you have an older loan it might be time to consider a Orlando Mortgage Refinance, or use the equity in your home for much-needed money. You have a lot of pride in your home and have worked hard to keep it in good order. Regardless, there are things you can do to improve your refinance position, and a key one is to have the house ready for a home appraisal.
The appraisal process is a part of refinancing, because the investor needs to be assured that the home value is well above the level you want to refinance. They will not accept loans for values too close or even above the home’s appraised value. No matter how much pride you have in your home, we suggest four things you can do to improve your appraisal process:
Refresh and de-clutter — A fresh coat of paint will take years off the visible age of your home. Outside or inside, you need to show a clean, fresh appearance to the home, and paint is the easiest way to do that. Also, take time to de-clutter your home. Remove excess furniture. Clean out those closets that have become storage rooms. Clean up the garage, making it neat and clean. As much as you would like to believe an appraiser will ignore the clutter in your home, they can’t and it will affect the appraisal.
Replace if it’s worn-out — Have some carpet that has seen better days? Have an entryway or den floor that has had too many shoes wearing it down? Spend a little money now to put down fresh carpet or replace that worn out floor. You don’t have to replace every floor in your home, but focus on what looks worn, because it is. If you don’t have the money to replace large carpet areas, pay for a professional cleaning.
Renew and update — Realtors will tell you that the two most important rooms when selling your home are the kitchen and bathrooms, and this holds true for re-financing as well. Anything you can do to update or refresh the look of these rooms will pay big dividends in the appraisal value. Replace broken fixtures and fix any leaks, add some paint and remove old wallpaper, replace old light fixtures, scrub away any mold or dirt, and generally do anything that makes the room look newly renovated.
Outdoor eye appeal — Before the appraiser shows up, get rid of weeds, add some mulch, remove any dead or dying plants, and generally make the outside more attractive. Don’t forget the paint we mentioned earlier. Do some power washing if you have siding or concrete driveways that can handle high-pressure water. The appraiser gets a first impression as they approach your home, so make it a good one.
When it comes to obtaining a re-finance, or need some money using the equity in your home, keep us in mind here at AHL Hard Money Loans. Our approval process is very quick compared to conventional investors, and we can help you through the process of getting validated by our Ft Myers Private Investors. We are here to serve you, so give us a call today.