Comments for First Commerce Financial

Comment on FHA Appraisals VS Conventional Appraisals – Why Does FHA Get A Bad Rap? by First Commerce Financial

First Commerce Financial — Tue, 30 Apr 2013 18:05:21 +0000

Thanks for sharing your story! We are seeing appraisals come in below, at, or above the agreed upon Purchase Price (regardless of financing type) in the Southeast Michigan market on a regular basis.

Comment on FHA Appraisals VS Conventional Appraisals – Why Does FHA Get A Bad Rap? by Ren

Ren — Tue, 30 Apr 2013 16:08:16 +0000

Tried to sell our home to a young couple with FHA financing, the home was custom and only 9 years old agreed selling price of $250,000…The FHA appraisal came in at $180,000.00. Needless say we passed and two weeks later found a buyer at asking price and sold 30 days later for asking price of $250,000. Will never again accept an FHA contract…We were told, indirectly by a professional, appraisals were coming in at less that 75% of true value????

Comment on The Mortgage Process: Cash To Close by Madelyn

Madelyn — Fri, 21 Sep 2012 10:59:54 +0000

The seller could be paying some of the settlement charges bringing the funds to close down. Also, you have earnest money that you put down which should also lower the cash to close.