u/Fantastic-Reading656

I was conditionally approved for a 200k loan on my duplex which is what I originally requested. The current zestimate is 236k, which doesn’t account for the upgrades I’ve done (new drywall, floors, fixtures etc.) My question is, if the appraisal comes back as worth more than 250k, will the bank offer a higher loan amount than 200k? Also, on the flip side, if it appraises as less than 250k, I’m assuming the bank will decrease my loan amount even though I’m approved.

I submitted 2 years of W-2’s and 2 most recent paystubs for me and my wife. I make about $55k per year and she makes about $75k per year. We both have good credit (mine is 748, hers is 798). We have no significant debts, just about $3k due with $18k of open credit on our credit cards. The house we’re borrowing against is completely paid off with no mortgage, a duplex worth about $250-300k in my opinion. Im wondering if they will request bank statements from us? My account is primarily just used for paying the credit card and other bills so it shows no savings. Her account shows about 35k in savings. My concern if they pull the bank statements is that I do a lot of recreational sports betting on my personal account as well and I’m not sure if the bank will flag me as a high risk borrower due to my account having no savings and about $500-$1000 a month sports betting. We’re also 30 years old so not sure if that also may play a part. Any thoughts?