How do I use HomeValueBot?
The technology and data used by HomeValueBot is the same that lenders use to estimate home values as part of their loan decision process. If you’re looking for a home equity loan, HomeValueBot can give you an idea of what your home is worth from a lender’s point of view. From that, you can estimate your equity and calculate how much you might be able to borrow. Some lenders in the HomeValueBot Network may use your HomeValueBot estimate for a lending value; this could mean faster decisions and lower costs for you. However, every lender makes individual loan decisions based on a broad range of criteria, including loan amount, loan-to-value ratio, borrower credit profile and their own lending guidelines. There is no guarantee that your HomeValueBot estimate will be the value used for your loan, and an appraisal or other type of valuation may be required for your specific loan.
