Do I Need a Home Appraisal for a HELOC?

Do I Need a Home Appraisal for a HELOC?


Yes, most lenders will require a home appraisal prior to qualifying you for a home equity loan or a home equity line of credit, also known as a HELOC.

The reason that they’re doing the home appraisal is so that they can estimate the price of your property and do the calculation to see how much you would be eligible for.

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Vlad Sherbatov

Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.