I like Herman's answer for this reason: the bank's appraiser will be more conservative than you will be when looking for the right comps. If the appraisal comes back lower than you hope, I wouldn't try to supply my own comps in an effort to persuade the bank to lend me more money. With most local housing markets being somewhat shaky right now, the last thing you want to do is dig yourself a hole by borrowing too much. Be very careful pulling equity out of a potentially depreciating asset. If your market is down right now, values will eventually bounce back. But what if you need to sell unexpectedly in the meantime?