It was appraised two months ago for 260k. 

When I did it the bank sent out an appraisal and would go up to 85% loan-to-value (LTV).

hey i am under contract on my first investment property, currently a 4/2 & 2/1 4600sqft duplex with a pretty easy conversion to 2/1, 2/1, 2/1 triplex.my wife and i are going to live in the bigger half and rent the smaller unit to take a chunk out of the mortgage.a family friend is fronting us the cash for the sale so we can close before the holidays, but i am taking out a mortgage to pay them back and using my existing HELOC for the down payment. i paid $120k cash for my house in VT in 2015, and in covid crazy times it was appraised at $180k for the HELOC. we are keeping the VT house, maybe airbnb or just rent long term.

At this moment, I'm expecting to be able to obtain it for around $140k and the market analysis shows that it'll appraise for around $200k. 

Many lenders will want an inspection/appraisal on the property to make sure everything is koshur for their lending needs as well.

You can pull out up to 75% of the current appraised value of the home with a simple, readily available, conventional cash-out refinance.

The appraisal for the property turned out surprisingly well and the property was valued much higher than what we anticipated.

Bank would ask for an appraisal of the house being purchased, surveys, etc.

I don’t have the cash to do a 20% down payment, but if the house appraised for 15-20% more than the purchase price would that basically be the same thing?

My renovations actually added approximately 750 sq ft of livable space and I anticipate my appraisal will be approximately $165,000 over what I paid for the property.