All Forum Posts by: Robert Gregg

It doesn't depend at all. The rule is that when you are purchasing a property that the lender will base their underwriting on the lesser of the purchase price or the appraised value. If you are refinancing after purchase, within one year of the purchase, then the lender will use the lesser of the purchase price or the appraised value of the property (at the time of the refinance).  After one year has passed, the valuation is just based on the appraised value.

I meant to say "They offer 100% financing with no mortgage insurance requirement".

A good starting point for financing would be via a VA loan. They Veterans 100% financing with no mortgage insurance requirement.