Asked by Robdmarcello, Dallas, TX • Tue Jan 29, 2013
So, we applied for a conventional 30 yr mtg and the appraisal came back and is saying the REL is only 25yrs. So the mtg company is not willing to lend us for 30. From what I understand, the REL is applicable to HUD and VA loans but not for conventional. The house is in Dallas, nice area, needs some updating but is in good condition. Any thoughts?
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