Can an appraisal from another lender be accepted for a new Home Equity loan with Veridian?
Yes, however the appraisal must be reviewed by a member of Veridian's Mortgage or Home Equity Teams prior to accepting the value. The reviewers will look for the following items:
- Original appraisal must be 'as is' (bottom of page 2 of the appraisal)
- Must be an interior/exterior appraisal (Fannie Mae Form 1004)
- Appraisal must be dated within 12 months
If any of the above items are not met, Veridian may request a new appraisal.
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