Refinance Appraisals 101 | LowerMyBills

Learn more: https://www.lowermybills.com/learn/ow... 00:00 Intro 00:08 Refinance Refresher 00:30 Why Lenders Need Another Appraisal 00:45 Why You Want The Highest Possible Appraisal 01:01 Factors You Can & Can't Control 01:33 Make a List For Your Appraiser 01:45 Make Sure Everything Works 01:57 Closing Mortgage refinancing can offer many financial advantages. It allows qualified homeowners to replace their current mortgage with a new one that has more-favorable terms. That could include lowering the interest rate, changing the repayment period, or making the monthly payment more affordable. Refinancing is especially attractive when interest rates drop, or when homeowners want to borrow some of their equity. Getting a mortgage refinance is a similar process to taking out the mortgage you used to buy the home. It often includes an appraisal of the property, which plays a big role in the lender’s decision to approve the loan and what terms it will offer. Featuring Annie Margarita Yang, Personal Finance Writer    / anniemargaritayang     Follow LowerMyBills: Instagram:   / lowermybills   Pinterest:    / lowermybills   Facebook:   / lowermybills   LinkedIn:   / lowermybills   Twitter:   / lowermybills   TikTok:   / lowermybills       LowerMyBills does not endorse, warrant, or guarantee any financial product, service or company and makes no representation of any rates or financial programs. The content displayed on LowerMyBills or in this video does not provide legal, financial, accounting or tax advice.