do i need an appraisal to refinance a mortgage 
in most cases yes lenders use appraisals to determine a home s value for refinancing mortgages the way they do for purchase mortgages there are a couple of exceptions however in some cases you will not need an valuation if you are taking out an fha refinance loan if it is what is called a streamline refinance loan 5 if you hold a va backed loan you will need an appraisal if you are planning to take out a cash out refinance loan 6due to the covid 19 pandemic there is a partial waiver on appraisals from april 26 2021 to april 26 2022 according to the u s department of housing and urban development 7the bottom linean appraisal is an assessment of the fair market value of a property business antique or even a collectible appraisals are used to estimate the value of items that are infrequently traded and are often rare or unique the authorized appraiser must have a designation from a regulatory body governing the jurisdiction of the appraiser appraisals can be done for many reasons such as tax purposes when valuing charitable donations but the most familiar form of appraisal is for a property home appraisals can positively or negatively impact the sale of a house or property and so are an important part of the process of financing a house a home appraisal is almost always a requirement when purchasing a home with a mortgage for example and if you are refinancing your property your lender may hire their own appraiser to make a valuation of your home 