Lender waived the Appraisal for a luxury STR purchase!

[AJ Wong]

It's been a very long time since I had an appraisal waived for a buyer obtaining financing but just received surprising news today! 

I work for/with a very investor focused lender and they support many of our luxury STR and second home coastal purchases for my client's in Oregon & California and they just waived the appraisal for a $800K purchase!

Testament to the strength of the Oregon Coast market and that there are incentives for very well qualified borrowers & quality properties. 

Loan should be CTC within a week of contract and investors enjoying the property and filing their STR permit application for Summer..

Rate on a 30 year fixed was in the high 6%'s...big job's report tomorrow that could accelerate rate cuts..stay tuned!