Appraisal Payment Information and Payment Portal
An appraisal is required in order to make a lending decision on your loan and Mortgage Equity Partners will be collecting an appraisal fee of $800.00. It is estimated that this amount will be the cost of your appraisal. The cost of the appraisal is based on property type, loan type, geographical location, accessibility, and complexity of the Subject Property. If unforeseen circumstances apply or supplemental inspections are required, Mortgage Equity Partners reserves the right to collect any difference between the original amount of the appraisal and any additional costs. If there are additional costs, Mortgage Equity Partners will notify you of the amount upon discovery of said amount and prior to your loan closing. If however the actual cost of the appraisal is lower than the $800.00 then you will be refunded this amount at closing.
The appraisal fee is non-refundable and you will be provided a copy of this report upon completion. Please note an appraisal is not necessarily an accurate representation of the market value of the Subject Property and the Subject Property report is solely used to assist in our lending decision.
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