Malinda Rumery
Saturday, January 14, 2012
What happens if my appraisal is lower than my 203k loan amount?
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My offer: $57,900. My 203k loan amount: $71,545 (includes improvements/repairs.) Appraised at: $70,000. I read that FHA loans up to 110% of the value. Is this correct? As long as I'm under $77,000 am I ok?
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