If the appraisal comes in low

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Appraisal gap$10,000

3.3% below the price. The loan is based on $290,000.

Keep the same loan$0 moreloan-to-value rises to 93.1%

Keep the same down payment %$9,000 moreloan drops to $261,000

Your options

Renegotiate. Ask the seller to lower the price to $290,000, or to meet you partway.
Cover the gap. Bring more cash, or keep the loan the same if the higher loan-to-value still fits your program and mortgage insurance.
Challenge it. If the appraiser missed better comparable sales, we can ask the lender for a reconsideration of value.
Cancel the contract if your contract's appraisal deadline and terms allow it.

Lenders use the lower of the price or appraised value. Keeping the same loan only works if the new loan-to-value stays within your program's limit.

Lenders use the lower of the price or the appraised value. See the gap and what each option means for your cash.

How this tool works

When the appraisal is below the price, the loan is based on the appraised value. You can renegotiate, cover the gap with more cash, challenge the appraisal with better comparable sales, or cancel if your contract allows it.

Learn more

Appraisals and low values

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