It depends on how much equity you have in the property exactly. The bank will do an appraisal but usually they will only lend up to 75-80% of the value. If you need help I know several bankers who can help you if you are qualified. Feel free to contact me. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783