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Updated almost 5 years ago on . Most recent reply

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Zachary Summers
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Zachary Summers's profile image
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Zachary Summers
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Private Lending & Conventional Mortgage Advice

Down payment based on appraised value instead of purchase price

Zachary Summers
Posted

Are there lenders that base your down payment on the APPRAISED value rather than the PURCHASE price ??? Everyone I have called so for are saying 20-25% of purchase price. I have a house i am wanting to purchase for 60k and the appraised value is 100k-110k??? Any advice would be greatly appreciated. Thanks

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