Why Are Lenders Interested in the Appraised Value of a Property

question 17

Essay

Why are lenders interested in the appraised value of a property before deciding whether or not to grant a mortgage loan?

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Definitions:

Operating System

A program that controls computer hardware, manages software resources, and offers general services for computer applications.

Computer Hardware

The physical components of a computer system, such as the CPU, RAM, hard drives, and peripherals.

Coordinates

Numerical values that specify the position of a point or object within a space, commonly used in mapping, GPS, and graphical design.

User Icon

A graphical representation or avatar that identifies a user on a computer system, website, or within an application.