I'm having a problem with mortgage approval with 65% LTV and excellent creditI am applying with Bank of America for a refinance. I am taking money out of the mortgage for home improvements. I decided on BofA as I am an existig banking customer of thiers and have always had a good relationship with folks at my local branch. I will be modernizing and renovating the kitchen and upstairs bathroom and painting several rooms. The bathroom and kitchen both have peeling paint on the ceiings which will be taken care of during the renovation and the other rooms will be painted. I am now being told by the Bank of America that I need to do all of the painting in advance in order to qualify for the loan. I had an appraisal done four months ago and it came in at $500,000 as is. The bank appraisal was for $552,000 contingent on painting being done. I am applying for a $335,000 mortgage and I have an excellent credit score. I'm having trouble understanding this whole situation and it all seems quite absurd. I'd appreciate any comments and suggestions.ThanksSeptember 09 2013 - Newton00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.