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Updated over 2 years ago on . Most recent reply

George King's profile image
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George King
  • Member since Nov 30, 2022
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George King's profile image
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George King
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George King
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Private Lending & Conventional Mortgage Advice

Apply for HELOC After Reappraisal?

George King
Posted

I'm planning to purchase a 3BR/1Bath SFR estimated appraisal value $275K. Plan to purchase for $265K. I pulled comps for 3BR /2Bath in same area and recently sold showed comps from $320K-360K. If I add a full bathroom to this house and have it reappraised as 3BR /2Bath and appraisal comes back at $320K. Can I apply for a HELOC with the equity built?

Thanks! 

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