What To Expect During A Refinance Appraisal? | reAlpha Mortgage

Refinancing your mortgage sounds great, until you hit the appraisal wall. Many homeowners feel blindsided when the appraised value comes back lower than expected, affecting loan terms or derailing their refinance altogether.

Heads up: Appraisals are a required part of most refinances. And yes, they matter, a lot.

But don’t worry, we’ve got your back. This guide walks you through what happens during a refinance appraisal, how to prep for one, and how to handle any surprises. Let’s make sure your home shines when the appraiser walks in. 

• A refinance appraisal determines your home’s current market value and can impact loan terms.
• Lenders use appraisal results to assess risk and finalize your loan approval.
• Key home features, local comps, and recent upgrades heavily influence your appraised value.
• Prepping your home strategically can help boost your final valuation.
• Understanding the appraisal process helps reduce stress and avoid delays.

Your refinance hinges on one thing: your home’s value. Lenders use this number to determine your loan-to-value (LTV) ratio, which directly affects:

• Your interest rate
• Whether you’ll need mortgage insurance
• Your ability to cash out equity

Pro Tip: The higher your appraised value, the more financial wiggle room you get.

Appraisers aren’t judging your decor. They assess your home’s value based on tangible criteria, such as:

• Square footage
• Number of bedrooms/bathrooms
• Overall condition (roof, HVAC, foundation, etc.)
• Upgrades and improvements
• Curb appeal
• Comparable sales in your area ("comps")

They're required to follow Uniform Standards of Professional Appraisal Practice (USPAP) and cannot inflate values.

Want to boost your chances of a great outcome? Start here:

1. Declutter and clean – First impressions matter.
2. Make minor repairs – Leaky faucet? Squeaky door? Fix it.
3. Document upgrades – Create a list of improvements with receipts.
4. Enhance curb appeal – Tidy landscaping goes a long way.
5. Provide helpful info – Leave out a list of recent comparable sales in your area.

Even great homes can fall short on paper. Watch for these:

• Over-personalized spaces (e.g., converted garages)
• Deferred maintenance (peeling paint, broken fixtures)
• Mismatched upgrades (a luxury kitchen in a basic home)

Tip: Stick to upgrades that align with your neighborhood’s market.

After the walkthrough, the appraiser submits their report to your lender. Then:

• If the value meets or exceeds expectations: You’re good to go.
• If it’s lower than needed, you may need to:
• Reduce your loan amount
• Bring cash to closing
• Dispute the appraisal (if the data is inaccurate)

Find the Perfect Mortgage for Your Dream Home with reAlpha Mortgage.

Compare options, calculate payments, and get expert guidance - all in one place.

Check if you qualify

You have the right to challenge an appraisal. Here's how:

• Request a copy of the report
• Highlight inaccuracies (square footage, condition, comps)
• Provide your data to back up your claim
• Submit your dispute through the lender’s process

Refinancing your home shouldn’t come with hidden costs - it should come with real savings. At reAlpha Mortgage, you can unlock up to 75% of your buyer agent’s commission back when you bundle services. That’s money you can use for appraisal fees, closing costs, or home upgrades.

• Start with 25% back for using a reAlpha agent.

• Add a reAlpha Mortgage and get 50%.

• Bundle Title services and you unlock the full 75% rebate.

Your home, your savings - backed by the smartest homebuying experience. Explore your savings now →

A refinance appraisal is a professional assessment of your home's current market value required by your lender during the refinance process.

Typically, the appraisal visit takes 30-60 minutes. The final report is usually submitted within 5-7 business days.

In some cases, yes. If you're eligible for an appraisal waiver (often available through automated underwriting systems), you might not need one.

You may need to lower your loan amount, pay the difference out of pocket, or dispute the appraisal with new data.

Clean, declutter, complete repairs, document upgrades, and prep your home for the best first impression.

Need more refinance clarity? Visit reAlpha for a smarter way to buy or refinance a home - and reAlpha Mortgage to work directly with mortgage experts who help you save big and close fast.

This content is provided for informational purposes only and does not constitute financial advice. All loans are subject to credit approval, property eligibility, and underwriting. Rates, terms, and conditions are subject to change without notice. reAlpha Mortgage | NMLS #1743790

Find the Perfect Mortgage for Your Dream Home with reAlpha Mortgage.

Compare options, calculate payments, and get expert guidance - all in one place.

Check if you qualify