Home Loan For More Than The Purchase Price

No. Your lender will only give you a mortgage loan UP TO the appraised price – not $1.00 over. The issue is your lender technically owns your new home until the loan is paid in full (about 25 – 30 yrs. later). Therefore, your lender refuses to pay more for the home than what the appraiser says it is worth today.

Previous post Usda Housing Eligibility Map
Next post Minimum Requirements For Fha Home Loan
Cookies | Terms and Conditions
^