When I first applied I estimated my home value at 390k which would give me a line of credit of 62k at an 80% loan to value ratio. (390k x 0.8 - mortgage balance)The appraisal came back at 420k which great news however when I requested that the limit be moved up to 80% LTV of the appraisal amount (86k) I was told that the loan commitment had already expired so in order to get up to 86k it would need to be a new application and also I would not get the promotional interest rate of 1.99% for the first year.

Hey @Dustin Livingston a few questions:Where is the property located (what city/state):When did you purchase property (month/year): What's the current value (estimated):Is it currently rented w/ a 12 month lease? 

Can I just tell you a property and you can tell me an estimate of what a property like that would rent for. and also could i use you as a real estate broker in lets say Hamilton or Weland.

At a purchase price of $225k, at a rough estimate, your mortgage and tax expenses I'm guessing will be about $1,000 if you put 20% down.

My handyman gave me an estimate for $1,500 to pull permits and $4,000 for the work.

The mortgage includes rehab and the estimated ARV would provide that initial investment plus a lot more.

Not too late - when you sign the Loan Estimate is when you've formally engaged and selected the lender so before that you're fine.

We are estimating that we'll need 12-15k for total cosmetic rehab.

They aren't the ones that get hurt if you can't actually afford their estimates.

There are services online that help you estimate repair costs using a PDF of your home inspection report.