Home Appraisal
A home appraisal is an independent professional's estimate of a property's market value, ordered by the lender to make sure the home is worth what you're borrowing. If it appraises below the purchase price, the lender won't finance the gap — a common deal snag.
A low appraisal can force the buyer to renegotiate, pay the difference in cash, or walk away. Appraisals also determine how much equity you can tap in a refinance or HELOC, since lenders lend against appraised value, not your estimate.
Put it to work
Mortgage Calculator
Estimate your monthly mortgage payment with taxes, insurance, PMI and HOA — plus total interest and a full amortization breakdown. Free, fast, no signup.
Home Equity Calculator
Calculate your home equity and how much you could borrow with a HELOC or home equity loan, based on your lender's combined loan-to-value limit.
Mortgage Refinance Calculator
Should you refinance? Compare payments, find your break-even month on closing costs, and see the honest lifetime cost — including the term-reset trap.