Can I mortgage more than the sale price of a home if it's less than the value?

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Can I mortgage more than the sale price of a home if it's less than the value?

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Can I mortgage more than the sale price of a home if it's less than the value?

09-04-2008

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ryno

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Can I mortgage more than the sale price of a home if it's less than the value?

My wife and I would like to purchase the home we currently rent from her parents.

If the sale price is 100K on a home valued at 200K, could we borrow 150K to cover the purchase and renovations?

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