Heloc loan not working like I thought it would.
So I'm new to the real-estate game and trying to get started. I'm working on a heloc loan for my house but it looks like it came up short of what I thought it would appraise for. So now the amount I was hoping to get is substantially lower. Is a heloc the best way to go or ways to get the bank to raise the amount up?
Most Popular Reply
@Dave Harlan, not much you can do about your current property's value. If you find that certain comps weren't accounted for you can challenge the appraisal to try and increase the limit. A HELOC and cash-out refi are the two most popular and utilized finance methods for pulling equity out of a property, with that being said, certain requirements must be met and will be dependent on the individual and property itself. Hope this helps!