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Mortgage glossary
Appraised Value
The appraised value is the value estimated by the appraiser. It may be different from the sale price, the owner's opinion, or the value used for property taxes. The lender uses it as part of the loan review.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.