HELOC appraisal value lower than expected

[Jared Standiford]

I am currently going through the process of a HELOC application with a local bank, and have just completed the appraisal step. The value of my home came in a lot lower than expected. The appraisal came in at $270,000, but when running the comps with my mortgage broker we came up with a value of $305,000. How could these numbers be this far off?...and is it typical for appraisals related to helocs coming in at a lower value? Are there any steps that I can take for reconsideration or a re-evaluation of the appraisal? Thank you

[Russell Brazil]

Appraisals for HELOCs and refinances are always going to be much more conservative than on a sale.