Automated Value Model
Ideal for most loans, FirstClose's AVM instantly delivers estimated, high and low values, as well as a confidence score based on comps in that geographical area.
This proprietary product is completed by FirstClose's in-house evaluation team. It includes an automated value as the AVM, but the comps can be modified by our evaluation specialists. This can lead to a more accurate value and overall higher confidence score.
Drive-By Appraisal (2055)
An appraiser will inspect the exterior of a property and provide an opinion of value.
Property Condition Reports
A full external inspection of the home details the current state of the property, including photos from multiple angles and street address verification. The report also includes notes about the neighborhood and any visible damage. An interior report is also available with additional detail.
Using traditional and electronic methods, this product is USPAP compliant and delivers an opinion of value from a certified appraiser like traditional Fannie Mae forms such as 2055 and 1004, only at a much lower cost.
Full Interior Appraisal (1004)
An appraiser will inspect the interior and exterior of a property, then provide an opinion of value.
Customer | FirstClose gives our members a much better borrowing experience. Its AVM cascade sped up our underwriting decisions, their desktop valuations are done in three days – instead of waiting on full appraisals, and title work is back the same or next business day – so our turn times are much faster. Their customer support is second to none.Ashley Love, Supervisor, Credit Administration, Truliant Federal Credit Union