Sentences with phrase «appraised at a lower value»

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This option not only allows you to start a new mortgage at a lower interest rate, but let's you add additional funds to the borrowed amount — up to 80 % of your home's appraised value.

«FHA will determine when a borrower has reached the 78 % loan to value ratio based on the lower of the sales price or appraised value at origination.

For example, if the lower of the sales price or the appraised value at origination was $ 100,000, when the loan amount reaches $ 78,000, FHA will no longer collect annual mortgage insurance premiums on the loan.

There's just one problem: Your lender refuses because your home has been appraised at too low of a value.

The homebuyer's lender appraises the property at a value significantly lower than the agreed - upon purchase price.

For an IRRRL, the main goal is to get a lower interest rate, so the appraised value of your home at the time of the original loan is sufficient for underwriting purposes.

However, some metro areas in the Northeast and the Midwest regions reported appraised values lower than owner estimates at a higher rate than the national trend.

- The cost of originating a loan is VERY high when you take a percentage of cost / appraised value at the lower property values.

Appraised values in October were 1.15 percent lower than what homeowners estimated at the start of the mortgage process, when viewed nationally.

As a result, owners that today have a loan with an 85 percent loan - to - value ratio on a property appraised at $ 10 million may find that upon renewal the lender will only go 65 percent and lower the appraisal to $ 8 million.

If your home does appraise at too low of a value, it might make more sense to wait to sell.