TermLoans & mortgages
Home appraisal
A professional estimate of your home value, required for most mortgages and refinances.
Watch out for this
A low appraisal can shrink how much you are allowed to borrow or refinance.
About this entry: short by design — every term in The Money Translator gets a one-sentence definition and a one-sentence reason to care. Some terms get deeper guides under the work.