I finally got my home equity line of credit, but the appraisal came in way lower than expected.

This happened about three weeks ago when I was trying to tap into some equity for a kitchen reno. The bank sent out their appraiser, and the valuation was a solid $25,000 under what I thought, based on recent sales in my neighborhood. It totally changed the amount I could borrow and messed up my budget. Has anyone else had an appraisal come up short and found a good way to challenge it?

2 comments

2 Comments

bennett.finley3d ago

Gather your own comps and send a formal appeal.

caleb_ross123d ago

Yeah, that's exactly what worked for me last year.