Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

10
Posts
15
Votes
Joe Alonzo
  • Flipper/Rehabber
  • Louisville, KY
15
Votes |
10
Posts

Underwriter Denying refinancing bc heat source in home!

Joe Alonzo
  • Flipper/Rehabber
  • Louisville, KY
Posted

Recently purchased my 1st home in April 2019 , rehabbed it and now in the process of pulling the Equity out to purchase another home ( had no problem getting this 1st loan with the homes gas wall mounted heaters) . The home uses 2 natural gas heaters (dyna-glo 3000 BTu), house was built in 1950 (older homes used these gas heaters as a heat source in the area) and is in the upperclass area where newer homes have been built and continue to be built ( which newer homes have central heat) , I just had the appraisal come back to the lender is saying that “” Appraisal stated The heaters aren’t normal for the area this is a comparable item The subject property doesn’t exist the area and/or comps used” so the underwriter won’t approve the refi , what do you guys think my next move should be? Add central heat to the home? Challenge the appraisal? Or some other idea? I’d like to hear from you guys! 

Most Popular Reply

User Stats

3,930
Posts
3,342
Votes
Max T.
  • Investor
  • Philadelphia, PA
3,342
Votes |
3,930
Posts
Max T.
  • Investor
  • Philadelphia, PA
Replied

Try another lender.

Loading replies...