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Why must an appraisal Be required for a good HELOC? Once you submit an application for an excellent HELOC, loan providers generally speaking require an assessment to acquire a precise possessions valuation. That's because your home's worth-with your mortgage balance and you will creditworthiness-determines if or not your qualify for good HELOC, whenever so, the amount you can borrow against your residence. In this post: Why must an assessment Be needed to possess a great HELOC? Why does the fresh new Appraisal Procedure Really works? Solutions so you're able to a HELOC A home guarantee line of credit (HELOC) offers an adaptable way to borrow funds, however, considering the higher deal and you will large limits-anyway, you reside at risk-the process is even more cutting-edge than trying to get an individual financing otherwise...