Getting mortgage on property below market value

[Brandon Brown]

I wanted to know if I get a mortgage on a home below market value could I pull cash out at closing …. For example buying a house for 130k from a family member but appraised for 240k can I get a mortgage for 200k and walk away with a check at closing

[Jay Hurst]

Quote from @Brandon Brown:

@Jay Hurst I’m moving in was gonna do a 203k loan but thought if I could just pull cash out I could cut out a lot of red tape and do rehab on my own

 @Brandon Brown    Since it is going to be a primary residence you can use a gift of equity.  https://selling-guide.fanniema...