Newsflash: I just refinanced with a stated, appraisal-less loan

And I’m pretty dang scared700+ credit score for me, wife is in low 600s maybe high 500s (I came in as a co-signer) using my income.Stated my income over the phone. They used a zillow-esque AVM to ‘appraise’ the house showing I have 35% equity in it. As a real estate agent I know that it’s way, way off and they’re taking higher properties and no care of condition of my own.4% interest rate on a 15 year term which is great for me.Last time I did this was April 2007 when I got a Alt-A on stated income, crappy appraisal and 0% down.



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