The Chimney Estimate is Chimney’s automated valuation model (AVM) that provides an up-to-date estimate of a home’s value. It is designed to give financial institutions and homeowners a reliable, lender-like view of property value directly inside digital banking.
The estimate updates monthly and reflects current market conditions using real estate data, comparable sales, and property characteristics.
Why It Matters
The Chimney Estimate helps financial institutions:
Strengthen digital engagement with homeowners
Support early lending conversations (HELOC, refi, mortgage reviews)
Provide members with transparent insights about their most valuable asset
Streamline loan discovery by giving a high-level sense of equity and potential borrowing power
For homeowners, it offers an easy way to monitor home value and understand changes in equity without searching external real estate sites.
How the Estimate Works (High-Level Overview)
The AVM uses a blend of:
Public property records
Comparable sales data
Real estate listing information
Market trend indicators
The model evaluates property attributes (location, size, type, features), recent transactions, and local market dynamics to estimate current value. The system recalculates values monthly to stay aligned with market shifts.
Important:
The Chimney Estimate is not an appraisal and not used for underwriting. It is a high-level valuation intended for insight and engagement.
Coverage & Accuracy
Chimney’s AVM provides broad national coverage and consistently validated performance:
143M+ parcels analyzed nationwide
~98% coverage of U.S. residential properties
Monthly updates aligned with market data
Ongoing model validation against recent sales and MLS information
These factors make the Chimney Estimate one of the most comprehensive valuation tools available in a consumer banking experience.
Why Values May Differ From Zillow or Redfin
Different AVMs use different:
Data sources
Modeling techniques
Weighting of market factors
Update frequencies
Chimney’s AVM focuses on producing an estimate similar to what a lender might reference - balanced, data-driven, and consistent.
Use Cases for Financial Institutions
1. Early Lending Conversations
Staff can use the valuation to:
Discuss potential HELOC or refinance options
Introduce home improvement financing
Help members understand how equity works
2. Digital Engagement
The estimate draws homeowners back into digital banking to:
Monitor their home value
Explore personalized offers
Stay informed about market changes
3. Portfolio Insight (FI Use Only)
Institutions can leverage aggregated valuation data to:
Understand local market exposure
Identify trends in borrower equity
Support strategic decision-making
Limitations & Compliance Notes
The Chimney Estimate is not a certified appraisal.
It should not be used for final underwriting decisions.
Staff must not guarantee approval, rates, or specific lending outcomes.
Equity and borrowing power shown are estimates only.
Always refer members to the appropriate lending or mortgage team for detailed financial guidance.
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