Financing in Ocean Pines : Real Estate Advice

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 , Real Estate Pro in
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Can I purchase a house in ocean pines for $230,000 but apply for a $330,000 loan (with $100,000 down). This way I can pay off my current mortgage and
No, that won't work. You need to put 20% for most conventional mortgages and the real issue is the appraisal. A home priced at $220,000 will not appraise for $100,000 more. Also, ... more
0 votes Share Flag Tue Feb 7, 2012 Financing in Ocean Pines
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