Vantage Appraisal Information

If your home improvement was specifically to increase the value of your home for resale purposes, you may also want to have your home professionally appraised. This is something you’ll likely need to provide for a potential buyer, anyway.

Check out What’s My Home Worth? for online home-pricing estimate sites and what to expect when getting an appraisal.

Additional appraisal info specific to Vantage Credit Union

Missouri members have the option of using an appraisal instead of the county assessment to determine the value of their home. Illinois property owners must have an appraisal done for every loan since there’s not an assessment system set up in the State of Illinois.

A copy of our approved appraiser list is available to members upon request. These are reputable appraisal companies we trust to provide fair and accurate assessments. Therefore, only appraisals from appraisers on this approved list will be accepted.

Vantage will also accept an appraisal that has been done in the last 6 months, again, from a company that’s been certified by the State of Missouri or Illinois as an appraisal company and is on our approved list.

Appraisals are required for loans over $75,000, loans involving condominiums, or when the LTV (loan-to-value) goes over 90%. There are times when we’re the ones who order the appraisal, depending on the situation. In those cases, you’ll need to pay the fee for the appraisal in advance.

Reasons why an appraisal might not pass:

  • Missing information
  • Missing comparable pictures
  • Missing or incorrect subject property pictures
  • Net adjustments fall outside of guidelines
  • Comparables are too far apart

As is the case with using reputable contractors, the same is true of reputable, licensed appraisers. When you put so much time, money and effort into getting the most out of your home, you want to make sure the person who comes to appraise it does the best and most thorough job he or she can.