Can a person get a home equity loan on a house while they are trying to purchase it if the appraisal allows ?

home equity loan
kerry f asked:


I am wandering about purchasing a home which the apprasial is $110,000 but I can buy it for $60,000. I am wandering if I can borrow the 60K and and then get a home equity loan for 25K for improvements to the property?

One Response to “Can a person get a home equity loan on a house while they are trying to purchase it if the appraisal allows ?”

  1. Brother Otter - September 21st, 2008

    Should be able to. If the appraisal actually shows that you have $50K in equity after you’ve bought the house, then you should easily be able to borrow half of that.

    BTW - please do yourself a favor and Report all of the SPAM/SCAM answers you get from online loan outfits. Nobody reputable does business that way…