• Did you know that sometimes an appraisal is required when applying for a mortgage and other times not? The decision to ask or not ask for an appraisal is lender specific. Some of them require them to minimize their risk whenever there is some question about the value of the property and other times the risk is already minimal. For example, if the mortgage is for a new home purchase and the house was listed on the MLS system and then sold for market value, generally an appraisal is not required. On the other hand, if it is a private sale, there is really no way for the lender to know the true value of the home. In these cases they would ask for an appraisal.

    If you would like to meet with Robert to discuss your mortgage needs, you can reach him at 905-574-9200 Ext. 215 or you can stop by to visit him at 651 Fennell Avenue East on the East Hamilton Mountain. Robert can help clients with their mortgage needs in Hamilton and surrounding area, Ontario and the rest of Canada.

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