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How is the security (i.e. Real Estate) offered for a loan valued?

April 26, 2017loan offered Real Estate security Valued

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How is the security (i.e. Real Estate) offered for a loan valued?

1 Answer

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An estimate of value is determined through an appraisal by one of our loan officers based on market value, income potential or cost approach less depreciation. Outside appraisals may be accepted by the Board.