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Avatar for AMERICAN HOME INSPECTION
AMERICAN HOME INSPECTION
4.3(
13
)
Appraisal - Real Estate

Serving Elba, AL and surrounding areas

In business since 1994

Credit card accepted

"A couple minutes late, but notified in advance. Did a great job inspecting the home and explained everything while going through it. Inspection completed and report printed out before they left.
"
Recommended by81%of homeowners
Property Appraiser questions, answered by experts

Both conventional loans and FHA loans are types of mortgages, but they have a few key differences. Conventional loans are backed by private lenders without any government backing, and FHA loans are guaranteed by a government agency. FHA loans are designed to be easier for borrowers with low credit scores or income to qualify for.

Mobile homes weigh anywhere between 45 to 50 pounds per square foot. Some newer options weigh up to 70 pounds per square foot. An average single-wide mobile home weighs 45,000 pounds, and a double-wide mobile home weighs about 70,000 pounds. Triple-wide mobile homes range from 90,000 to 100,000 pounds.

The entire appraisal process takes from seven to 10 days. This timeline accounts for the many steps of the appraisal process, including the post-inspection report completed by the appraiser.

Home appraisal services include the following tasks:

  • Inspect home interior and exterior

  • Evaluate materials, features, fixtures, and renovations

  • Review comparable properties

  • Write an appraisal report

The cost ranges from $300 to $500, depending on the property's size and location. Due to their complexity, commercial appraisals may cost more.

While there’s technically no limit to the dollar amount you can borrow for a home addition, the standard limit is around 80% of the value the addition is expected to add to your home. That means you could feasibly borrow up to $80,000 if an appraiser determines that the addition or bump out will add $100,000 in value to your property. You might also be limited by your debt-to-income ratio or credit score.

The Elba, AL homeowners’ guide to property appraisals

From average costs to expert advice, get all the answers you need to get your job done.