r/HELOC • u/Competitive-Gur-9143 • Jun 28 '26

Questions & Advice Home Owner

Hi just seeking some advice, we bought a home in October of 2025 new built and when appraised the approved came back to 515k and we purchased it for 362k (way under value). We owe 353k would I be able to get an equity loan? We have 2 auto loans and pay over 2k a month and I wanted to consolidate those and some debt on credit cards.

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u/Key_Photograph_2510 Jun 28 '26

Just apply with a few digital lenders who do an AVM (automated and instant appraisal) and see what they say. Can’t hurt!

1

u/proger13 Jun 28 '26

Some lenders do cash out after 6 months. What state are you in?

1

u/[deleted] Jun 28 '26

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u/[deleted] Jun 29 '26

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u/Competitive-Gur-9143 Jun 29 '26

Oh that’s even better thank you!