Tag: refinance less than 12 months

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.  See the guidelines below for the full details regarding the definition of adjusted value for […]

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