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Home Loans

No. Your county assessed value is not the true value of the home. The tax assessed value is an estimate used by the county to calculate property taxes based on your levy rate.

No. The appraisal must be initiated and ordered by Solarity Credit Union.

No. Appraisals must be ordered by Solarity Credit Union through a third-party. This helps ensure a fair valuation of the property for you and Solarity. The appraisal is paid for by the member.

If you’re current on your loan payments, PMI is automatically removed on the date the principal balance of your loan is scheduled to reach 78% of the original value of the property. You also have the right to request PMI be removed once your loan balance reaches 80% of the original value of the property, or the date the principal balance is scheduled to reach 80%.

Rates can fluctuate at any time until you lock your rate. Rate locks are in place for a specific time period which is determined at the time of lock. If you lock in your rate and close within the lock period, the rate you locked in will be your rate. Your Home Loan Guide can answer any questions about locking rates and rate changes.

An appraisal determines the estimated value of a home. Appraisals are typically in favor of the buyer, so don’t be too discouraged if this is what is holding up your closing date! The appraisal will keep you from paying too much for a home that’s not worth the asking price and can even be used as a great negotiating tool if the appraisal comes in lower than expected.

Third-party home loan fees are those charged by any party other than your lender during the processing of your loan. These fees are included as part of your closing costs, and often include:

  • Appraisal
  • Credit Report
  • Escrow/Closing Fee
  • Title Search
  • Title Insurance
  • Survey Fee
  • Flood Certificate/Report
  • Courier Fees
  • Transfer Fees

Home improvements can be one of the most exciting parts of being a homeowner – depending on who you ask, of course! When deciding what to fix up next, it’s smart to consider not only what is valuable to you, but what might be valuable to others when (or if) you decide to sell your home. Here's a list of the 6 most valuable home improvements from Moving.com and Remodeling Magazine:

  1. Upscale garage door replacement
  2. Manufactured stone veneer on exterior
  3. Wood deck addition
  4. The kitchen (within reason)
  5. Siding and vinyl window replacements
  6. Bathroom remodel

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