Can you borrow more from a mortgage lender than the asking value of the property?

Written By: admin on November 26, 2009 2 Comments

A mortgage company want’s to finance just enough for the buy the home. Is that standard practice or not?

erock247 on: 26 November 2009 at 4:37 pm

Yes you can, and you are likely to pay through the azz in points for it. try to find another way.
Angel.Girl_7672 on: 26 November 2009 at 4:37 pm

First off, is this your first home? If you need more money but I recommend not getting too far into debt, get your house and after a while, after you prove your credit worthiness, you can refi for up to 125% of value. Be careful tho. Get the lowest interest rates as possible and stay away from balloons.