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Updated over 8 years ago on . Most recent reply

User Stats

318
Posts
154
Votes
Osazee Edebiri
  • Realtor
  • San Jose, CA
154
Votes |
318
Posts

Doing Refi and your property is undervalued

Osazee Edebiri
  • Realtor
  • San Jose, CA
Posted

Hi BP,

So I am working on a Refi of my property in Oakland, CA. It is unique and therefore there have not been any recent sales like it within a one mile radius. I have already inreased the value tremendously, but the cash coming back from the refi is low because it just under what is needed to qualify for a Fannie Jumbo loan.

I provided additional comps, but they threw them out because they are not close enough, however the lender specifically told me it was a sale, the loan would be higher, because the vaule is clearly higher, but we can't get it done with the comps we have. Anyone have any suggestions?

Most Popular Reply

User Stats

9,365
Posts
6,552
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,552
Votes |
9,365
Posts
John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Replied

@Chris Mason may have some insight.

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