I know I should go to a different forum to ask this but...(help needed) - GoFuckYourself.com

ADL Josh · 05-08-2007, 12:05 PM

...i don't really want to, i like GFY...so GFY

anyways..I'm looking into buying a house. It's a foreclosure and it's selling for less than the house is worth. My question is: Do banks give loans for more than what the asking price of the house is? For example, if the asking price was 200k and the house was worth 300k, Would the bank give me 275k if I wanted it.

I know it's not a normal GFY topic, but i'd rather talk with people here than at some bank forum, if there even is any.

Any help would be appreciated, Thanks!

MattO · 05-08-2007, 12:10 PM

If you can get it appraised for an amount, you might be able to get a good percentage of the appraisal value.

I just refinanced my house for the appraised value, which was much more than what I purchased it for 3 years ago. I got the loan for 80% of the new value, which paid off the old loan and put a bunch of cash in my hand.

Now, this was a refinance, I don't know how tough it would be to do that with a new purchase, you need to talk to your broker.

Kevin Cunningham · 05-08-2007, 12:14 PM

Quote:

Originally Posted by ADL Josh

...i don't really want to, i like GFY...so GFY

anyways..I'm looking into buying a house. It's a foreclosure and it's selling for less than the house is worth. My question is: Do banks give loans for more than what the asking price of the house is? For example, if the asking price was 200k and the house was worth 300k, Would the bank give me 275k if I wanted it.

I know it's not a normal GFY topic, but i'd rather talk with people here than at some bank forum, if there even is any.

Any help would be appreciated, Thanks!

If you're looking into buying a house, good time to talk to a Mortgage Banker or broker. He or she will have the best answer to your question.

Sosa · 05-08-2007, 12:16 PM

Talk to a few diff loan officers or mortage bankers and get their opinions.

Humpy Leftnut · 05-08-2007, 12:18 PM

Yeah c'mon, talk to someone who has a clue, we still haven't showered, changed, eaten and are almost all mostly naked here. Some of us have already spilled food on ourselves.

Chio · 05-08-2007, 12:19 PM

Quote:

Originally Posted by Humpy Leftnut

Some of us have already spilled food on ourselves.

Guilty... but it was coffee.

ADL Josh · 05-08-2007, 12:27 PM

Quote:

Originally Posted by MattO

If you can get it appraised for an amount, you might be able to get a good percentage of the appraisal value.

I just refinanced my house for the appraised value, which was much more than what I purchased it for 3 years ago. I got the loan for 80% of the new value, which paid off the old loan and put a bunch of cash in my hand.

Now, this was a refinance, I don't know how tough it would be to do that with a new purchase, you need to talk to your broker.

yeah, that is what I was hoping they would do..i know they do that with refinances all the time, im just hoping they do it with a new purchases too. i dont see why they wouldn't, but who knows.

ADL Josh · 05-08-2007, 12:28 PM

Quote:

Originally Posted by Humpy Leftnut

Yeah c'mon, talk to someone who has a clue, we still haven't showered, changed, eaten and are almost all mostly naked here. Some of us have already spilled food on ourselves.

Phoenix · 05-08-2007, 12:29 PM

go talk to a broker

Phoenix · 05-08-2007, 12:30 PM

Quote:

Originally Posted by Humpy Leftnut

Yeah c'mon, talk to someone who has a clue, we still haven't showered, changed, eaten and are almost all mostly naked here. Some of us have already spilled food on ourselves.

pasta sauce on my shirt

but i am clothed

05-08-2007, 12:05 PM	#1
ADL Josh Confirmed User Join Date: Feb 2007 Posts: 3,026	I know I should go to a different forum to ask this but...(help needed) ...i don't really want to, i like GFY...so GFY anyways..I'm looking into buying a house. It's a foreclosure and it's selling for less than the house is worth. My question is: Do banks give loans for more than what the asking price of the house is? For example, if the asking price was 200k and the house was worth 300k, Would the bank give me 275k if I wanted it. I know it's not a normal GFY topic, but i'd rather talk with people here than at some bank forum, if there even is any. Any help would be appreciated, Thanks! __________________ ICQ: 395-433-632

05-08-2007, 12:18 PM	#5
Humpy Leftnut Confirmed User Join Date: Apr 2007 Posts: 1,292	Yeah c'mon, talk to someone who has a clue, we still haven't showered, changed, eaten and are almost all mostly naked here. Some of us have already spilled food on ourselves. __________________ Humpy Leftnut - Pornsumer Reviews

05-08-2007, 12:29 PM	#9
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,472	go talk to a broker __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

05-08-2007, 12:10 PM	#2
MattO The O is for Oohhh Join Date: Feb 2003 Location: AUSTIN TEJAS Posts: 10,861	If you can get it appraised for an amount, you might be able to get a good percentage of the appraisal value. I just refinanced my house for the appraised value, which was much more than what I purchased it for 3 years ago. I got the loan for 80% of the new value, which paid off the old loan and put a bunch of cash in my hand. Now, this was a refinance, I don't know how tough it would be to do that with a new purchase, you need to talk to your broker.

05-08-2007, 12:16 PM	#4
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	Talk to a few diff loan officers or mortage bankers and get their opinions.