Sentences with phrase «more than the appraised value»

The lender won't loan you more than the appraised value of the home, so if this happens, you have a few options:

• The home's purchase price must be no more than the appraised value of the property.

However, being that a reverse mortgage is a nonrecourse loan, you never owe more than the appraised value of the home.

Remember, a reverse mortgage is a nonrecourse loan, meaning you never owe more than the appraised value of the home.

Keep in mind that a reverse mortgage is a nonrecourse loan, meaning you never owe more than the appraised value of the home.

However, a reverse mortgage is what is known as a nonrecourse loan, meaning you never owe more than the appraised value of the home.

A reverse mortgage is a type of loan known as a nonrecourse loan, which means that you can never owe more than the appraised value of the home.

So, if you agree to buy a home for $ 150,000, and the appraiser puts the value at $ 140,000, the lender isn't going to give you a dime more than the appraised value.

Do you happen to know if this could potentially help me with getting the sale done since I am willing to pay more than the appraised value?

The lender won't loan you more than the appraised value of the home, so if this happens, you have a few options:

Since you can not get a loan for more than the appraised value, and the seller will have a difficult time finding another buyer who is willing to pay more than the home is worth, it is in the interest of both parties to try to work this situation out.

No idea whether if there is a successful bidder the amount bid will be less than, equal to or more than the appraised value of the auction items.

A home appraisal can have two results; the asking price is equal to or less than the appraised value or the asking price is more than the appraised value.

Listen to your agent and let the buyer know that you simply can NOT pay more than the appraised value.

The buyer refused to pay more than the appraised value.

Three other buyers were willing to pay more than the appraised value.

In one case, my buyers had offered the private seller Thirty Five Thousand Dollars more than the appraised value of the place just because they wanted it so badly.

With a FHA - insured3 reverse mortgage loan you'll never owe more than the appraised value of your home when the loan comes due, so long as the home is sold to repay the loan.

Finally, if you are using conventional financing and pay more than the appraised value, you will most likely have to come up with the difference yourself (I have run into this myself, although my spread was more like 5k and I knew the appraisal came in too low).

For starters, if you are not purchasing the house for more than the appraised value you are not required to make a down payment.

Not exact matches

In other words, it's required when a single loan accounts for more than 80 % of the appraised property value.

However, if the appraised value of the home is more than a few percentage points higher than the lender's expectation for what that value should be, the lender may ask to commission a second, verifying appraisal.

Yet the Sain building remains unsold despite a willing and well financed buyer who is offering more than a half - million over the appraised value for a deteriorating building that Rockland County no longer needs.

While the estimate may not be the actual or appraised value of your property, this can be a much more useful too than Zillow to gauge fluctuations and trends in your market which affect your home's value.

If my property's appraised value is more than the purchase price, may I use the difference toward my down payment?

Unlike a home inspector, who looks for defects that could cost the buyer money down the road, an appraiser looks at home components that contribute to its value — mostly location, square footage, number of bedrooms and bathrooms, and overall condition, says George Alexa of Alexa Residential Appraisal in Fairfax Station, VA, who has appraised more than 16,000 properties in the past 30 years.

Usually, the amount of your loan can be no more than 95 percent of the appraised property value or 95 percent of the sales price of your home, whichever is less.

When the home is sold, you do not have to pay any more than the current appraised value.

The hitch with concessions is their value can't total more than 4 percent of the home's appraised value.

This is riskier however because it assumes they can get the foreclosure for cheap, fix it up inexpensively, result in appraised value of more than their total investment thus far and finally be able to find renters willing to pay the monthly mortgage.

However, if the borrower receives more than $ 250 cash at closing, the loan is limited to 85 percent of the sum of the appraised value and allowable closing costs.

The Internal Revenue Service only allows you to claim the appraised value of a donated engagement ring if you have had possession of the ring for more than one year.

The appraised value of a collection can sometimes be two to three times more than the fair market value.

In other words, it's required when a single loan accounts for more than 80 % of the appraised property value.

If the family or heirs wish to keep the home, and the loan balance is more than the home is worth, they would only have to pay 95 % of the appraised value of the home.

However, if the appraised value of the home is more than a few percentage points higher than the lender's expectation for what that value should be, the lender may ask to commission a second, verifying appraisal.

For members of the military, veterans, and military spouses, VA loans require zero down payment if the sales price isn't more than the property's appraised value.

I bought that with cash, got it rented, and I went to my local bank and they gave me a loan on it for 70 % of the appraised value, which happened to be more than I had in it.

While the estimate may not be the actual or appraised value of your property, it can be a much more accurate than Zillow to gauge fluctuations and trends in your market which affect your home's value.

This means that regardless of the loan balance, you and your heirs will not be responsible for repaying more than the home's appraised value at the time the loan becomes due and payable.

VA home loans are especially fitting for eligible veterans and their families who need to a mortgage for more than 80 percent of a home's appraised value or purchase price, because mortgage insurance is not required.

If my property's appraised value is more than the purchase price can I use the difference towards my down payment?

May people feel that their home is worth more than true fair market value, so the appraised value doesn't always make sense to them.

Normally banks will not do a cash - out loan for more than 80 % of the appraised value of the property.

This means that the mortgage holders will never owe more than the value of the home, as that value is appraised as part of the reverse mortgage process.

This means that borrowers will never owe more than the value of the home, even if the loan balance ultimately exceeds the appraised value of the home.

Shared Equity - Since the loan is written for no more than 90 % of the current appraised value, the borrower must agree to share portions of this equity with HUD.

If you have a second mortgage, the lienholder must either write off the loan or re-subordinate it to the new first mortgage, and write off enough so that the total of both the new first mortgage plus the old second mortgage is no more than 115 % of the home's current appraised value.

There's more volatility than that in the appraised value of the home you want to buy.

Specifically, the new FHA mortgages can be no more than 90 percent of the property's new appraised value.