Thank you for commenting Brad. How is the home value determined during SBA underwriting? Is it based on the most recent lien on the property, state/county value, or is an updated appraisal required? ^redacted‌

The first thing the lender is going to look at is your personal financial statement and what you have valued it at on that statement. If you show equity in the home there then that could trigger them to require an appraisal. The second thing they are going to do if you move forward is look at one of the online sites like Zillow and see what they have it listed at. If the value from Zillow shows insufficient equity, then you are likely good. If not then they will likely require an appraisal to determine if there is equity that can be taken or not. I hope this helps.