[kmeade]

On a construction loan that is being refinanced into a permanent loan can we use the original appraisal along with an appraisal completion report (completed with the construction loan) for the permanent loan. My concern is the appraisal and the appraisal completion reports are dated prior to the issuance of the new loan estimate and prior to receiving “intent to proceed” on the permanent loan? The permanent loan is not a secondary market loan and the bank is ok with using the original appraisal and completion report from the appraiser.

[rcooper]

Assuming you are complying with the appraisal regs/guidelines and your internal policy, and as long as the appraisal and completion report are required as part of the construction loan (regardless of whether you were doing the permanent financing), I don’t see a problem with this process.

[Author]

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