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Metro Detroit

Refinance Appraisal in Metro Detroit

Understand who orders a refinance appraisal, and compare local appraisers for a private value check before you apply. Request appraisal quotes with confidence.

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0Appraisers profiles
6Metro counties
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Rebuild Detroit is not an appraisal management company and does not order or influence appraisals for mortgage lenders.

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Local to Metro Detroit: Detroit, Wayne, Oakland, Macomb and more
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Before you hire

Refinance appraisals in Metro Detroit: how they work

For a refinance, your lender orders the appraisal, not you. Under appraiser independence rules, the lender or its appraisal management company selects and pays the appraiser, and lenders will not accept a report from an appraiser the borrower selected or paid. Some refinances need no appraisal at all. Start with your lender; see lenders.

Where a private appraisal helps: before you apply, a value check tells you whether you likely have enough equity for a cash-out refinance or to drop mortgage insurance. It will not be used in the loan decision, but it can save you an application that will not work.

For PMI removal, federal rules let you ask your servicer to cancel it once you reach the required equity, and the servicer may ask for evidence such as an appraisal. Ask your servicer how it wants value shown before you order anything, since many servicers arrange the appraisal themselves.

What a good engagement includes

  • For the loan: an appraiser selected by your lender or its appraisal management company
  • For a private check: a written intended use such as equity planning, not a loan decision
  • An interior and exterior inspection with notes on updates and condition
  • Recent comparable sales in your neighborhood with adjustments
  • A written USPAP report with the appraiser's license number and level
  • A clear effective date so you know how current the value is

What drives the fee

  • Loan appraisal fees are set through your lender and shown on your loan estimate
  • For a private appraisal: property type, one unit or two to four units
  • Report type: full written report or a shorter restricted report
  • Size, updates and unusual features that need more support
  • Few recent comparable sales nearby
  • Rush turnaround

Rebuild Detroit does not publish price ranges. Get written appraisal quotes for the same scope and compare.

Licensing and standards in Michigan

Michigan licenses real estate appraisers through LARA at four levels: limited, state licensed, certified residential and certified general. Every appraisal must conform to USPAP and show the license number and level. For loans sold to Fannie Mae, lenders must select the appraiser and may not accept a borrower-ordered report.

Rebuild Detroit does not order lender appraisals and is not an appraisal management company.

How to compare appraisal quotes

  1. Ask your lender whether an appraisal is required and when it will be ordered.
  2. For PMI removal, ask your servicer how it requires value to be documented.
  3. If you want a private value check, say it is for planning and verify the license on LARA.
  4. Give the appraiser a list of updates with dates, such as roof, furnace or kitchen.
  5. Compare turnaround and report type across quotes.

Ready to get started?

Tell us once. Rebuild Detroit routes your request to Metro Detroit real estate appraisers.

Common questions

Refinance Appraisal FAQ

No. Your lender or its appraisal management company chooses the appraiser. You can share information about updates and recent sales through your lender.
Generally no. Appraiser independence rules bar lenders from using reports from appraisers the borrower selected or paid. A private appraisal is for your own planning.
If you request early cancellation, your servicer can ask for evidence that the value has not declined, which may be an appraisal. Ask the servicer for its process first.
Ask your lender about a reconsideration of value and share relevant nearby sales. You can also adjust the loan amount or wait and reapply.

Get refinance appraisal appraisal quotes from local pros

Compare Metro Detroit real estate appraisers and confirm credentials, scope and cost drivers before you hire.

Call (833) 313-2434