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HELOC without formal appraisal

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Appleman
Valued Contributor

HELOC without formal appraisal

Hello,

Does anyone know of any banks/credit unions that have a HELOC that does not require a formal appraisal? Meaning they can do an on-line market value etc.

 

My recent refinance ultimately did not require a formal appraisal of the property.

 

Community America Credit Union need a formal appraisal.

My mortgage broker told me that they were not very competitive on HELOCs and recommended I try other places. 

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