If you've made it to the appraisal, you're really making progress in your real estate transaction. Congrats! While the neighbors anxiously wait for the appraisal to come in high so that their property values can increase, the sellers don't want to feel that they let their home go for too little, and the buyers don't want to feel they paid too much...it's all so emotional! However, there's more to the home appraisal than just determining what the value is of the house you want to purchase. Appraisals can also affect the mortgage application. Please allow us to explain.