Market Values and Mortgages

Well heeled buyers of upscale homes have been accustomed to being wooed by lenders.  They are still valued customers, but lenders are now increasingly picky about the market value of the home on which they're making a mortgage loan.  Where one appraisal (often a "drive by" appraisal at that) has been the norm, lenders are beginning to require two appraisals and sometimes even a real estate broker's "opinion letter" as well.  If you have your heart set on a particular home, include finding out how the lender handles establishing the market value of homes they're considering making a loan on as part of your "due diligence" when you're shopping for a lender.