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Real Estate Appraisals and Your Mortgage: An Interview with Jason Breeland of MiLEND, Inc.

By Jason Breeland

Tell us a little about your company and its foundation.

MiLEND, Inc. has grown since 1995 to become one of the nation's fastest growing companies in 2012. Focusing on educating homeowners how to restructure their debts and accomplish individual short and long-term financial goals, MiLEND, Inc. takes pride in our consultative approach to the mortgage industry.

What services does your company provide?

MiLEND, Inc. provides financing for residential properties. Purchase, refinance, HARP, USDA, FHA, VA, debt consolidation are our most popular loan types.

What factors most influence your mortgage?

Several factors may influence a mortgage qualification and/or rate. The key components are DTI (debt-to-income) ratio, LTV (loan-to-value), and credit score.

How can a home appraisal influence a person's mortgage?

A home appraisal is required with all purchases and most refinances. The value determined by the appraiser plus the new loan amount required are the only two elements in determining the LTV. Certain loan types require LTVs to be below a particular threshold in order to qualify. Each loan type will also have rate adjustments depending on the product and lender.

Is it smart to get your home appraised prior to refinancing your mortgage?

A home appraisal is required with most refinance programs. It is not beneficial to do this before you begin the refinance process since they have an expiration date. In addition the appraisal needs to be assigned to the lender before the loan can close.

What's the best way to contact your company?

MiLEND can be reached by calling 770-817-1550 or visiting

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Phone: 770-670-4616

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