If you have owned a home less than 12 months and you want to refinance that home, FHA will assess the value as the lesser of the purchase price or property value.

Related Article Title: FHA Determination of Property Value when owned for less than 12 months. Question: Why is underwriting using the purchase price of a property vs. the full appraised value for a home that was purchased less than 12 months ago? Answer: FHA bases the LTV calculation on the Adjusted Value of the property.  […]

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