How to Refinance With a Low Appraisal

April 19, 2020 Mortgage Refinance,Mortgages


Refinancing your home can be a difficult task under any conditions, but with a low appraisal value, it is especially challenging. The recent housing crisis left many homeowners in this position – the overall drop in home values produced loan-to-value (LTV) ratios that were unacceptably high to banks, putting refinancing out of reach.

Even without a housing crisis, appraisals can come in at surprisingly low values that are below your expectations. Appraisers are human, and they can make mistakes or use incomplete information.

If you have a low appraisal value that makes refinancing difficult, what can you do about it? You do have a few options to consider.

  • Challenge the Appraisal – If you have reason to believe the appraisal is in error, you can challenge it. However, you need to have a valid reason – blindly questioning the appraiser’s resu…

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