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Updated almost 5 years ago on . Most recent reply

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Mike Matos
  • Member since Apr 30, 2020
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Mike Matos's profile image
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Mike Matos
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Mike Matos
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Buying & Selling Real Estate

LTV on Higher Appraisal Amount

Mike Matos
Posted

Let's say a property appraises for more than the agreed upon purchase price. Do banks ever lend on the LTV of the appraised value rather than the lower PP? Could the equity in the new purchase be used for renovations, down payment, closing costs, etc?

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