Macaw: Appraisal Waiver Eligibility Tool
Macaw, a new tool to help you skip the home appraisal.
Macaw is Guaranteed Rate’s newest tech breakthrough, allowing you to see if your home may be eligible for an appraisal waiver. By skipping the appraisal process you can:
- Close faster
- Eliminate the appraisal fee
Macaw instantly provides a preliminary assessment on whether you need an appraisal for select loans.
- Home purchase or refinancing transactions only
- 1-unit, including condos
- Primary Residence or second home
- 80% Loan To Value/Total Loan To Value option limit
Macaw appraisal waiver eligibility requirements vary by investor and state and may be subject to additional restrictions. Subject property must not have or be required to obtain an appraisal by law. Cash-out refinance’s, property values over $1M, manufactured homes, coops and others are not eligible for approval. Please contact your Guaranteed Rate Loan Officer for full list of ineligible loan types. Applicant subject to credit and underwriting approval. Not all properties will be approved for Macaw appraisal waiver. Not all applicants will be approved for financing. Contact Guaranteed Rate for more information and current rates. Any finding provided through Macaw is a preliminary finding. Final appraisal waiver eligibility shall be determined after a full mortgage application is assessed by an investor automated underwriting system and all investor requirements have been met..