Is it possible to get finance 80% on appraised value?

[Srikanth Vadlakonda]

Someone selling it already fixed property at $370K and current apprised value is $430K. Is it possible to get mortgage finance on apprised value? I would like to buy and hold.

[Jessica Tsao]

@Srikanth Vad

@Srikanth Vadlakonda. On a purchase yes. Ned is 100% correct, it's the lower of the sales price or appraised value. BUT on a cash out refi you can go up to 75%LTV on appraised value.

Hope this helps