Refinance Using Appraised Value After You Listed

Can you refinance using appraised value after you listed the property? Yes — if the listing is actually off the market. Some lenders still cap you at the old list price even after you cancel the MLS. Take it down, then we can use the as-is appraised value, even when that number is higher than what you had it listed at.

Prefer the dedicated watch page for playback: Watch the video.

Why lenders cling to the old list price

You listed because you intended to sell. The market did not cooperate, or you decided to keep the asset. Now you want to refinance at what the property is actually worth.

The friction is the list price. It is a public number. Some lenders treat it as a hard ceiling: you listed at $320,000, the appraisal comes in at $365,000, and they still size the loan off $320,000.

That is how a strategy change gets punished. You already took the property off the market. You are not asking them to fund a sale. You are asking them to refinance an investment you now plan to hold.

The move: take it off the market, then use as-is value

The video is one step. Take the property off the market. Then we can refinance using the as-is appraised value, even if that appraisal is higher than the old list price.

Delist first so the file is a refinance, not an active sale. As-is means current condition — not after-repair value, and not the price you hoped a retail buyer would pay. If the rehab is done, as-is and market value are usually the same conversation. If work is still open, as-is is the number that exists today.

For a cash-out that underwrites current value instead of purchase price, see DSCR cash-out refinance and DSCR cash-out with no seasoning.

List price, appraised value, and ARV are not the same number

Investors mix these three constantly. They should not.

Number	What it is	When it matters
List price	A marketing ask	Useful while you are selling. A drag if a lender treats it as value after you delist.
As-is appraised value	What the property is worth today	The number this refinance uses
ARV	After-repair value	Flip leverage and 100% financing files — not this hold/refi path

A list price can sit below true value on purpose or above it because you tested the market. Neither case is an appraisal. Once you cancel the listing, the question is: what do sold comps support as-is?

Vacant is fine — no lease required

The second point in the video surprises people coming off a conventional desk: it does not have to be leased. It can be vacant.

You can change from “we were going to sell it” to “we are going to refinance it” without first finding a tenant. Vacancy is not an automatic decline on this path.

A signed lease still helps if you want a long-term DSCR hold — rent over PITIA at 1.0+ is the cleanest DSCR story. You are not blocked from starting because the house is empty.

DSCR cash-out at Jaken Finance Group runs up to 80% LTV in select markets for qualified borrowers, with rates at 5.75%–10.5%. If you still plan to sell and only need time and liquidity, a short-term bridge at 8.99%–13.5% may fit better than a 30-year hold loan.

Change strategies without getting penalized

This is the investor reality the listing created:

1. You listed to sell.
2. Buyer traffic was thin, or you found a better use for the equity.
3. You want to keep the property and pull cash or reset the debt.
4. Some lenders treat the old list as if you are still selling — and haircut value.

You should not get penalized for changing your mind. Taking the listing down is the reset. After that, the file is a refinance of an investment property, underwritten to as-is value.

If you still want the property listed while you pull cash, that is a different conversation — see refinance a listed fix-and-flip with a cash-out bridge and the agent-facing stale-listing cash-out refinance. Those files keep marketing alive. This video is the other fork: delist, then use the higher appraisal.

Path	Listing status	Value used	Best when
This video	Off the market	As-is appraisal, even if above old list	You are done selling and want a hold/refi
Stay-listed bridge	Stays on MLS	Appraised value with a sale exit	You still intend to sell and need time or cash
DSCR hold	Off market (typical)	As-is value + rent or market rent	You are converting to a rental

Pick the path that matches the next 12 months, not the listing photos from last spring.

When the old list price actually is a problem

A list-price haircut hurts most when the appraisal already supports more than you asked, you listed low to create traffic that never showed up, or you need cash-out sized off real value to fund the next deal. It hurts less when the list was already above comps — then the appraisal caps you, and it should.

If you are mid-rehab, finish enough work that as-is value is the number you want to borrow against. An as-is appraisal on a half-gutted house will not match the ARV you used to buy it. See hard money to DSCR refinance when the exit is a rental takeout after the rehab.

What to send after you delist

Do this in order:

1. Cancel the listing. Confirm it is off MLS and any public portals have caught up.
2. Pull the payoff on the current loan — hard money, bridge, or existing mortgage.
3. Know your ask. Rate-and-term (clean up the note) or cash-out.
4. Send the file: address, old list price, payoff, rent if any, and whether the property is vacant.
5. Submit a refinance or tell us what kind of loan you need.
6. Call (833) 264-7776 if you want a same-week read on whether as-is value clears the math.

If you still have a flip scope and you are not converting to a hold, submit the flip instead so we size the file as a bridge, not a rental takeout.

You do not need a tenant lined up first. You do need the listing actually down.

In this video

• 0:00 — Lender using list value after you already tried to sell
• 0:08 — Take the property off the market
• 0:15 — Use appraised value even if it is higher than the old list price
• 0:22 — No lease required; vacant is fine
• 0:27 — Change strategies without getting penalized
• 0:30 — Call and refinance at actual as-is value

Full transcript

Are you upset that your lender is going off the list value even though you took the property off the market and you want to refinance it at the higher appraised value even though you were just trying to sell it? Here’s what you need to do. All you have to do with us is take the property off the market and we can use the appraised value even if it’s higher than what you had it listed at. No problems. Doesn’t have to be leased. Can be vacant. You can change strategies and not get penalized for that. So, just take it off the market, then give me a call and we’ll refinance it using the actual as-is.

Ready to refinance at as-is value?

Take the listing down, then submit your refinance or tell us what kind of loan you need. Prefer to talk it through? Call (833) 264-7776.

Rates, terms and conditions offered only to qualified borrowers and are subject to change at any time without notice. Closing times are in business days and commence upon receipt of appraisal payment and satisfaction of borrower conditions. Closing times may be delayed due to appraiser property access. All loans are subject to full underwriting for loan approvals. Jaken Finance Group only finances non-owner occupied investment properties.

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Jaken Finance Group, 2300 Barrington Road, Suite 400, Hoffman Estates, IL 60196

Refinance Using Appraised Value After You Listed — next step

Delist first. Qualified DSCR cash-out files run 5.75%–10.5% at up to 80% LTV in select markets. Bridge takeouts run 8.99%–13.5% when the exit is still a sale.

Submit scenario · Pre-qualify · (833) 264-7776.