if the asking price is more than the appraisal will bank approve loan Depends somewhat on your down payment. If it is large enough to create equity, & the price gap is not that great, they might. If that sounds like a ‘slim chance’, it is. Now a day’s, banks are very strict with all …

If you get a home equity loan how would that effect your monthly payments that your already paying? An equity loan (or any loan) will have requirements to repay. That usually calls for monthly payments. So, yes, it will add to the monthly payments you are already paying.