Kimberly Rotter for Achieve

Do you need a home appraisal to qualify for a HELOC or home equity loan?

While you've been focused on everything else life throws at you, your property has been working behind the scenes. Most people build equity as they pay down their mortgage and property values rise. Meanwhile, big expenses come up from time to time.

Under the right circumstances, a home equity line of credit could help you reach your financial goals. A HELOC is a mortgage. The process may differ slightly from what you went through to get your first mortgage, but some elements remain the same. For example, your lender will want to confirm the value of your home. Achieve sharesHere’s how appraisals work for a HELOC.

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