Refinance Appraisals: What Homeowners Should Know

Homeowners refinance to lower a rate, shorten a term, tap equity or remove mortgage insurance. In nearly every case, the lender needs an appraisal.

The appraiser compares your home to recent nearby sales, adjusting for differences in size, condition, features and location.

To help your home show well: keep it clean and accessible, document upgrades, and be ready to point out improvements the appraiser might not see.

Remember that the appraisal reflects the market as it is today. If values in your area have risen, your equity may be stronger than you expect.

If you have questions about the process, we are always happy to explain it.