HELOCS AND LAND

[Brett Thomas]

Good morning!

Is the value of the land included to the appraised value of the house when the bank is assessing a HELOC for you? I am building a house on 12 acres of land, and was wondering if it will be: appraised value of house + appraised value of land = total value of property that HELOC is based off of?

Thanks guys!

[Brent Coombs]

@Brett Thomas, yes, I expect the whole building/land package would be appraised.

[Not official HELOC advice. If I'm completely off base, please let me know]. Cheers...