An appraisal is an essential step in any mortgage process. It establishes the value of the home to be used as collateral, and determines how much money the lender is willing to loan for a new mortgage and how much cash a homeowner is able to obtain in a refinance or second mortgage.

Buying your first home is an exciting prospect. Here are some topics for you to consider as you prepare for the mortgage process – keeping in mind that your best first step is to meet with a home loan consultant who will be able to help you think and work through these critical questions.