Is it sales price or appraised value?

[Andrew Ikeda 0]

Greetings Fellow Investors,

 

Last week I received a phone call from a realtor/investor asking me about whether lenders determine loan amounts off the sales price or the appraised value.

 

The answer is sales price, but the sales price cannot be more than the appraised value. The sales price and the appraised value can be the same.

 

Hope this clears any confusion or misunderstanding.

 

Andrew Ikeda (Mortgage/Investment Specialist)

US Funding Group, Inc

888-889-1640 ext 220

 

andrew.ikeda@usfundinggrp.com and/or andikeda@netscape.net