Financing in 90503>Question Details

Zenas, Home Owner in 90503

I am applying for a home equity loan. The bank wants to appraisal my home. My concern is that I added a toilet without permit. Is it a problem?

Asked by Zenas, 90503 Mon Nov 21, 2011

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Depends on the type of appraisal....I agree that worst case, appraiser won't add value to the improvement. My previous employer, US Bank, has great HELOC's up to 85% in CA through the retail channel and the good news is you wouldn't have to pay to find out.

If you need a contact there, check out their website or let me know, I will get you in contact with someone!

Ivan Diaz
Home Mortgage Consultant
Mortgage Solutions
(415) 271-7740 cell
0 votes Thank Flag Link Tue Nov 22, 2011
The worst thing that can happen with most lenders is there would be no value added for the improvement. You want to be sure the appraiser states that it was completed in a "workman-like manner." If not, schedule another appointment and get it properly taken care of.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Mon Nov 21, 2011
I don't know; is it a problem?
Was it good quality work?
Was it up to code?
Can you tell by looking?
How would an Inspector or Appraiser know, if you didn't tell him?

Good luck and may God bless
0 votes Thank Flag Link Mon Nov 21, 2011
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