How ARV is used
An appraiser reviews your plans, the contractor's bid, and recent sales of similar updated homes nearby. The result helps decide how much you can borrow. With a renovation loan, the loan amount can be based on the finished value rather than today's as-is value.
What helps the estimate
- A detailed contractor bid with costs for each item
- Plans or drawings for larger projects
- Recent sales of updated homes in the same neighborhood
Frequently asked questions
Is ARV the same as the appraisal?
It's part of it. On a renovation loan, the appraiser gives both an as-is value and an after-repaired value.
Can I use ARV to buy and fix a home I'll live in?
Yes. Our renovation loans let you finance the purchase and the improvements together.