How Do I Find Out My Home’s Value?

June 22, 2021

For borrowers looking to apply for a Home Equity Loan or Line of Credit, the value of your home is going to be a significant factor in determining how much you can be approved for. As a result, it’s normal for you to wonder what your home is worth. There are a couple of ways a borrower can find this information, each with varying degrees of accuracy.

One way to get an idea of your home’s value is to research values of comparable homes located in close proximity to yours. The easiest way to do this is to research websites such as and that compile and organize this data.

Online research will provide you with an approximate idea of how much your home is worth, but the most accurate way to determine the market value of your home would be to have a home appraisal performed by a licensed or certified appraiser. An appraiser will use a variety of factors to determine a home’s value. These will include square footage, number of rooms, location, condition, and age compared to similar properties that have recently sold in your area. Once your appraisal is complete, you are entitled to a copy and should carefully review it to ensure the information is accurate.

It’s important to know that when applying for a Home Equity product, the lender may not always order a full appraisal to determine your home’s value. For example, at Ephrata National Bank, we’ll use an alternative evaluation method, which is a less comprehensive form of appraisal for loans under $250,000. If you believe the value of your home is more than what your lender is coming up with as a result of an alternative evaluation method, you can request a full appraisal to get a more accurate home value. Just know that in most cases, the bank will pass the cost of the appraisal along to you and it will be more expensive.

If you’d like to learn more or apply for an ENB HomeLine, visit our HomeLine page or give us a call at 717-733-4181. We’ll be happy to help you.