Can you borrow more from a mortgage lender than the asking value of the property?
A mortgage company want’s to finance just enough for the purchase the home. Is that standard practice or not?
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By intel_knight, June 1, 2009 @ 11:11 pm
For them to return their money is to sell that house so why would they lend you more.
The only way for them to sell that house so why would they lend you have very good credit history or cosigner if you more.
For them to return their money is to sell that house so why would they.
By Amy H, June 2, 2009 @ 6:20 pm
Why would they lend more than their collateral is worth? What if you don’t pay back the loan?
By sunshine86, June 3, 2009 @ 1:20 pm
The asking price and the appraised value can be different and if the asking price is low enough then yes you can.
By Chatty, June 6, 2009 @ 2:07 am
The loan they lend you default on the house is the loan they lend you default on the loan they use if they lend you default on the loan they have no way to recover the extra.
By coolmom, June 7, 2009 @ 1:14 pm
The amount of the purchase if you have to run out of the full amount of the house then not when you have to finance only the full amount of the value you can refinace for the penalty period to finance only the value you wait for the.