On a refinance application, the year you purchased the property and the price you paid for it are provided to the appraiser to assist them in finding data about your home through local public records. In addition, if you purchased your home in the last year some of the loan programs we offer require us to compare the original purchase price to the current appraised value so that any large increases in value can be justified.
If you don’t remember the exact year and purchase price of the property an estimate will work just fine