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Mortgage Professor about appraised value: | |||||||||||||||||||||||
Do Mortgage Lenders Recognize Bargain Prices?
October 9, 2000 "I am buying a house for $105,000 but it is appraised at $120,000. Can I use the difference as my down payment?" "I have no cash and lots of credit card debt, but I think I can purchase a house for less than its appraised value. Can I use the ... more... Sample Mortgage Insurance Premiums Typical Monthly Private Mortgage Insurance Premiums, Revised September 12, 2005 Down Payment as Percent of the Lower of Sale Price or Appraised Value ... more... |
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appraised value related definitions |
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Appraisal
Appraisal An estimate of the value of property, made by a qualified professional called an "appraiser". Before a lender will lend you the money for a home, they will first require an appraisal to be done by a qualified licensed appraiser ... more... Loan To Value Ratio Loan To Value Ratio Loan To Value, LTV. This is the size of the loan or mortgage as a percentage of the value of the property or price being paid for the property, eg a property valued at $120,000 with a mortgage of $108,000 would have an LTV of 90%. Loans with an LTV over ... more... |
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