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The bank told me that I could no longer get advances from my home equity line of credit (HELOC) because the value of my home declined. The notice I received from the bank stated that I could appeal the decision by obtaining an updated appraisal. The bank indicated that I would have to pay for that appraisal. Can the bank require me to pay for the appraisal?

Yes. If you appeal the bank's decision to reduce the credit limit or suspend your ability to draw on your HELOC, then the bank can require you to pay reasonable fees for a home appraisal or credit report fee. Be aware that an updated appraisal does not guarantee that the bank will approve your appeal.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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