zillow.com - Before any lender will loan you money to buy or refinance a home, the lender will attempt to get some idea of what the property is worth. After all, the real estate serves as the collateral that you will be putting up to secure the loan.
Typically the lender will order an appraisal report. The value returned on this report will determine how much the lender is willing to lend.
Here is a simple guide to help you understand this sometimes very confusing document.
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