A house appraisal for refinancing purposes makes this information available to the bank-and to you. As such, the lender wants to know this new value, too, since it can affect the amount of equity you hold in your home. In the time that has passed since you first bought your home, your property value has most likely appreciated or depreciated. Essentially, banks want to know that they’re not loaning you more money than your home is worth. When you purchased your house, you likely had it appraised so that the bank had a clear idea of the home’s value. What Does Appraisal Have to Do with Refinancing?īecause a home mortgage is essentially a loan, the lender (in most cases, the bank) has an interest in the value of your home. Have you also thought about home equity loans? When it comes to equity loans, does a home equity loan require an appraisal to get approval? The point is, before making a decision, ask, research, and explore all the home financing options. Before Requesting to Refinance Your Home Mortgageīefore you even file that request, ask yourself: Do you need to refinance your home mortgage? Or perhaps there’s another avenue you can take. Read on to discover what to expect during a refinance appraisal and what to do if your appraisal value is too low. We’ll be breaking down the process of getting a home appraisal for refinancing. One of the steps you’ll need to take when refinancing is having your home’s value appraised.Īs a homeowner, you may be familiar with the process of getting a home appraisal. However, there are some notable differences between a purchase appraisal and a refinance appraisal. No matter your reason for refinancing, it’s crucial to understand what goes on behind the scenes. Or maybe you want to convert your home equity to cash for a sizable expense for renovations or to invest in a new business. Maybe you’re looking to consolidate debt. You will need to be a computer or laptop to download the files – they can’t be downloaded on a phone or tablet.There are several reasons to refinance your home mortgage, and all of them are equally valid. Go to the purchases and reviews’ tab, scroll to this purchase and click the download link. You can also find your files at any time in your Etsy account. The files will be delivered electronically within minutes of your order and payment.Īn email will be sent to the address associated with your Etsy account with a link for your download. The design of this Document CANNOT be resold, shared, or redistributed (digital or printed) on any online store.īecause digital items are available for download immediately after purchase, I am unable to offer refunds or exchanges. Nor should be any claim made as per ownership of the design of this Document. The Document and content within Document CANNOT be resold, shared, or redistributed. The purchase licenses you (1 Individual) to use this Document. You can also find your downloads by going to: Your Account > Purchases & Reviews Once payment is confirmed you will receive an e-mail from Etsy with a link to download your product. This printable is available in letter size (8.5 x 11 inches) only. HOME APPRAISAL INSPECTION CHECKLIST (2 pages) Having a checklist is also very helpful as a documented cross-reference in instances where the completed appraisal report is missing or has inaccurate information regarding your home and may help in cases of rebuttal of appraisal.ĭesign, layout of the checklist and Information provided within the checklist can not be edited or adjusted. My checklist includes questions an appraiser would typically ask before and during the inspection, particular items the appraiser needs to inspect, and having them ready may help you to avoid re-inspection and slowing down the process of your transaction.Ī completed checklist list will give you an assurance that all important information regarding your home needed for the appraisal process is successfully communicated to the appraiser. Using this checklist I have prepared you can fill more confident while scheduling and preparing for an appraisal inspection of your home. Prepared by the Real Estate Appraiser with 20 + years of experienceīased on my experience many homeowners have little knowledge of what exactly to expect during appraisal inspection, what needs to be prepared and what the appraiser will be looking at in the course of the inspection, what questions appraisers may ask. DIGITAL DOWNLOAD | HOME APPRAISAL INSPECTION CHECKLIST
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