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My property appraised too low! Home appraisals are often required for refinance loans. A “low appraisal” happens a lot more on refinance transactions than on purchase ones. The homeowner often.
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If you’re taking out a home equity line of credit, the amount of available equity you have in your home plays an important role. Your home equity is the difference between the appraised value of your home and your current mortgage balance(s). The more equity you have, the more financing options may be available to you.
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