Factors that influence a home’s appraisal value

Photo: lucho++ 

When you buy a home, your lender will order an appraisal to determine the fair market value.

The appraisal is important to the lender because the home serves as collateral for the loan.

If you’re unable to repay your mortgage and the lender forecloses, it wants to be able to sell the home to recoup the money it lent you, so it has to make sure you’re not overpaying.

Learn about the factors that influence a home’s appraisal value in my Mortgage-Calc.com article.