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Can A Person Get A Home Equity Loan On A House While They Are Trying To Purchase It If The Appraisal Allows ?

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?

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This entry was posted on Monday, May 18th, 2009 at 8:49 am and is filed under Home Equity Loan Q&A. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.


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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 says:
    May 18, 2009 at 4:49 am

    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…

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