What is the CFI approach to appraisals?
Our approach is go get appraisals numbers in early, and from industry accepted providers. The delivery of appraisals late in the process can result in unexpected cash availability shortfalls. Shortfalls can prevent a loan closing or equally as bad, causes borrowers to seek supplementary financing at the eleventh hour – often at prices or terms that may be constrictive. Lenders are generally prohibited from issuing commitment letters until all appraisal work is complete. By starting the appraisal process before the application process begins, borrowers can avoid the frustration of a protracted appraisal process.
