The way PIW works is, your loan office or mortgage loan officer at your mortgage advisor\u2019s office will run your mortgage loan through an automated underwriting system.\u00a0<\/p>
Then they will have an estimated value on what your property is worth.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>Now, if Fannie Mae and Freddie Mac agree that the estimated property value is realistic, they will issue a property inspection waiver. This means you do not need to get a property appraisal done at all on your property!<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>This is definitely the preferred way to go, and with the advance in technology, this is becoming more and more common.\u00a0<\/p>
You might need to check with your loan officer for more information on qualification as\u00a0this is not available for all properties and all loan types.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t