What do appraisers look at for a home equity loan appraisal?

A home equity loan appraisal covers the same items as any lender-ordered valuation. The lender orders the appraisal to value the property as collateral, and the appraiser examines the home's overall condition, including the foundation and roof, along with renovations, upgrades, amenities, size, layout, and number of rooms. The appraiser photographs the exterior and some interior features, then compares the property against recent sales of similar homes nearby to support an opinion of value.