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Updated over 6 years ago on . Most recent reply

Greg Davis's profile image
Greg Davis's profile image
Greg Davis
  • Real Estate Broker
  • from Atlanta, GA
  • Member since Mar 9, 2015
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Greg Davis's profile image
Greg Davis's profile image
Greg Davis
  • Real Estate Broker
  • from Atlanta, GA
  • Member since Mar 9, 2015
Connect
Greg Davis
  • Real Estate Broker
  • Atlanta, GA
10
Votes |
32
Posts
Starting Out

How do you pull out equity on your home after its appreciated?

Greg Davis
  • Real Estate Broker
  • Atlanta, GA
Posted
Hi all, I have a SFR valued at around 215k. The original loan was for 170k and I currently owe 140k. What’s the best strategy to pull out the equity to buy another property based off the new value? Traditional banks I’ve spoken with will only give me a cash out refi based off the original loan amount and money I owe now.
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Ann Rosen's profile image
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Ann Rosen
  • Member since May 7, 2018
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Ann Rosen's profile image
Ann Rosen's profile image
Ann Rosen
  • Member since May 7, 2018
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Ann Rosen
15
Votes |
44
Posts
Ann Rosen
Replied

Do not order an appraisal because most lenders have their own appraisal companies and you will be paying for two appraisals.  Is the property in Atlanta?

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