Problem with HELOC appraisal... need help!

[Patrick McCandless]

Hey guys I was on my way with PenFed and the appraisal (the drive-by one they do after their desktop comes back lower than expected) came back way low. $45k under the appraisal from my refinance from just 1 month ago. The "appraiser" used completely irrelevant comps in a different neighborhood when there are literally 3 recent sales on my same street and 2 in my exact same floor plan. So now the only options are to pay for a $600 appraisal and hope that one comes back correctly or move forward at the value the first guy gave and go the route of a 90% LTV HELOC instead of an 80% LTV HELOC which is 4.75% versus the 3.75%. Problem is that I'm shopping around and everyone elses rates are like mid 4's to low 5's for an 80% LTV HELOC so even taking the 90% LTV option with PenFed I'm still on par with the competition it seems. Anyone have some recommendations on either disputing the current appraisal so I don't have to pay for one or other bank recommendations? Thanks everyone.