Given the tightening of regulations on appraisals in the home financing process, I would like to get an idea of the "rough" value of my home before initiating the refinance process.
Since our mortgage and second mortgage were initiated in 2006-2007, we could save a significant amount per month on any type of loan we could get right now (including the PMI or FHA add-on cost, if necessary). However, we're worried that it isn't sensible to attempt a refinance if we end up being over 100% loan-to-value and cannot complete the loan - and end up being charge the cost of the appraisal ($500+).
What is the best way to find out if our home is even in the range of being able to refinance (<97.75% LTV)? We know the exact number that it would need to appraise greater than, now we just need to determine our odds of reaching that amount.
For example, I'd like to know how to find the amount of recent comps in my area. I'm willing to pay a small fee for access to this data, if it's available for a fee.
Note: I've tried Zillow and similar, and it is below the above number, but returns some pretty weird numbers throughout our neighborhood.
Do I have any other options that I'm missing?