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February 16, 2025
Question

The question about Fair Market Value--total value of your home on the date the debt was last secured by the home. Is that what the FMV is today or when loan acquired?

  • February 16, 2025
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    1 reply

    KrisD15
    February 16, 2025

    It would be for the date the loan was acquired. If this was the original loan, it would be the price you paid for the home. 

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    February 16, 2025

    If it's a refi-- then is it the value at the time of the refi?

    February 16, 2025

    Yes, that is correct.  You can answer the question with the FMV on the date of the refinance.  If you had an appraisal prepared, you can use that, or use what was estimated as the FMV for the loan.