Actually, I've seen appraisal waivers pop up more often lately, even in areas with mixed comps. My brother refinanced last year—older neighborhood, mixed sales—and got the waiver. Might depend more on lender policies than just comps or credit alone...
Interesting point about lender policies—I hadn't really thought about that angle before. Do you think it's more about the lender's internal risk assessment or maybe their relationship with certain appraisal management companies? I've noticed some lenders seem way more flexible than others, even when comps are all over the place.
A friend of mine refinanced recently too, and he was surprised to get a waiver because his neighborhood had some pretty inconsistent sales. Makes me wonder if lenders are leaning more heavily on automated valuation models these days, especially with how hot the market's been lately. Maybe they're just more confident in their data now?
Either way, sounds like you might have a decent shot at getting a waiver yourself, especially if your situation is similar to your brother's. Good luck with the refi...hope it works out smoothly for you.
I refinanced last year and was also surprised by how smoothly it went, even though comps in my area were pretty scattered. Seems like lenders are definitely trusting automated valuations more these days...maybe they're just getting better at crunching the numbers? Either way, fingers crossed for you.
Had a similar experience refinancing a couple years back. I figured the scattered comps around here would trip things up, but nope—went through without a hitch. Guess their algorithms have gotten pretty dialed in lately...not complaining though, made my life easier.
Interesting you mention that about the algorithms getting sharper lately...I've noticed the same thing, especially with automated valuation models (AVMs). But I'm wondering, with all these improvements, does anyone know if HARP refinancing is even still a viable option nowadays? Last I heard, the original HARP program ended a while back, but I've seen some lenders advertising "HARP replacement" programs or similar-sounding products. Makes me curious if they're legit or just marketing gimmicks riding on the old program's reputation.
I refinanced a few years ago too—back then it felt like HARP was everywhere—but lately it's been crickets. Seems like lenders might've moved onto other tools or newer programs. Anyone have recent experience or insight into what's replaced HARP, if anything?
