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Real Estate
Reply to "Putting 10% downpayment instead of 20"
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[quote=Anonymous]If you’re not putting 20% down sellers may think you can’t come up with the cash to handle a missed appraisal. That’s especially a concern if you’re bidding $100k+ over asking or if your lender is one of the major banks, which may have more conservative appraisers. You can mitigate some of that by having your lender reach out to the sellers agent proactively and verify that you have the cash for a 20% down payment and that you can handle any issues with the appraisal (that is why using a reputable local lender is always a good idea).[/quote]
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