A home sells for $150,000 but is appraised by a lender for $145,000. The lender will typically apply the loan-to-value ratio to the larger of the two numbers.

Name: A home sells for $150,000 but is appraised by a lender for $145,000. The lender will typically apply the loan-to-value ratio to the larger of the two numbers.
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The lender will typically apply the loan-to-value ratio to the smaller of the two numbers.

A Home Sells for $150,000 but Is Appraised by a Lender