Before you can refinance your loan, you may need to have your home appraised to assess its fair market value. This evaluation is conducted by a third-party home inspector and costs between $300—$550 for a single-family home. You’ll see this fee outlined as part of your closing costs, although you actually put down a deposit to pay for it when you lock your rate with Better Mortgage. Because the appraisal fee covers a service conducted by a third-party, Better Mortgage can’t waive this cost. The only way to avoid paying this amount is if your home qualifies for a Property Inspection Waiver (PIW).
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