Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now
Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

loans
apply now
MORTGAGE INTEREST RATES DROP TO HISTORIC LOWS!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
 
 
apply now
MORTGAGE INTEREST RATES DROP TO HISTORIC LOWS!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
 
 
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989

Figure Payment

Loan Amount ($)
Interest Rate (%)
Loan Term (Yrs)
Payment:

Appraisal Needed To Obtain Loan

Usually, individuals applying for a loan are only interested in obtaining the loan and unfortunately are not worried about the prudence of buying the property at the agreed price. In fact, many purchasers will try to encourage appraisers to increase the appraised value so that they can purchase the home regardless of its value.

The majority of real estate appraisals are requested by mortgage companies to validate the property's purchase price for loan purposes. Except for periods of very low interest rates when everyone is refinancing, most loans are for the purchase of real estate and ordered after a sale price is negotiated. Purchasers mistakenly assume that mortgage companies are looking after their interests in the purchase transaction.

The law states that if the mortgage company orders the appraisal, the appraiser is responsible only to the mortgage company. We expect mortgage companies to be prudent and they should be, but being prudent is protecting their interest, not necessarily the purchaser's. The mortgage company's position is:

  • It has two sources of repayment: the purchaser's income and the property.
  • The responsibility to repay the loan is not based upon the property's value, so the purchaser is obligated to pay the note even if the property value declines to zero.
  • The loan may be insured or guaranteed by a government agency.
  • The government does not promise to pay the purchaser's debt if the property value is wrong.
  • If the loan is greater than 80% of the value, a portion of the loan may be insured by a private mortgage insurer.
  • There is no decrease in risk for the purchaser regardless of the loan to value ratio. The investment by the purchaser is the same; a mixture of personal cash and a loan that must be repaid.

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

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Service Provider

 

 

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

security Provided by OpenClose Proud Partner of OpenClose for 11 yrs
Service Provider