Learn whether or not you need an appraisal for a home equity line of credit (HELOC). Explore alternatives and the importance of accurate valuation. An appraisal is a critical part of the homebuying process.

Understanding the Context

If your home appraisal comes in lower than expected, it can cost you money and potentially delay — or even derail — the entire transaction. Finance Strategists on MSN: Do you need an appraisal for a home equity line of credit? Do you need an appraisal for a home equity line of credit? Bankrate on MSN: What is a home appraisal, and how does it work?

Key Insights

Mortgage lenders require appraisals to ensure they’re not loaning you more than the home is worth. The meaning of IMPORTANCE is the quality or state of being important : consequence. How to use importance in a sentence. Synonym Discussion of Importance. IMPORTANCE definition: 1.

Final Thoughts

the quality of being important: 2. the quality of being important: 3. the quality of being…. Find 94 different ways to say IMPORTANCE, along with antonyms, related words, and example sentences at Thesaurus.com. Importance, consequence, significance, moment all signify something valuable, influential, or worthy of note. Importance is the most general of these, assigning exceptional or notable value or influence to a person or thing: the importance of Einstein's discoveries.

Importance is a property of entities that matter or make a difference. For example, World War II was an important event and Albert Einstein was an important person because of how each affected the world. There are disagreements in the academic literature about what type of difference is required. Definition of importance noun in Oxford Advanced Learner's Dictionary.