Updated over 9 years ago on . Most recent reply
203k loans
Hello,
My current loan officer is telling me to ask 9k over the appraisal price of a triplex that I am using a 203k loan for. The house is on the market for 159k is appraised for 156k and the loan officer wants me to offer 165k . The house has been on the market for over a year. He is talking about the owner paying for up to 6% of the closing costs. Does anyone know why he wants me to offer more? Should I offer less? Thanks.
-D