Why You Need an Appraisal if You're Refinancing Your Mortgage

·3-min read
Why You Need an Appraisal if You're Refinancing Your Mortgage

When you apply to refinance your home loan, you may be surprised if your mortgage lender wants to do an appraisal. A home mortgage is a secured loan. If you don't pay off your refinanced home loan as promised, the lender could foreclose, sell the house, and get their money back.