Minnesota Specifics
What happens if the home appraisal comes in low?
Context
A low appraisal can threaten a deal after you thought financing was on track.
The short answer
If the appraisal is below the purchase price, you can renegotiate with the seller, bring extra cash to cover the gap, challenge the appraisal with better comps, or in some cases walk away if your contract has an appraisal contingency.
Things to keep in mind
Which option applies depends on your purchase agreement and whether it includes an appraisal contingency.
Next step
DMF helps you understand your options and works with the lender on any reconsideration-of-value request — contact us if your appraisal comes in low.
Have a question about your own situation?
DMF serves Minnesota homebuyers and homeowners by shopping your purchase or refinance file across multiple wholesale lenders — not a single bank's product menu.
Davis Monroe Financial, LLC is a mortgage broker, not a lender. We do not make credit decisions or fund loans. Rate locks are issued by the lender; we submit and manage lock requests on your behalf. All loans are subject to credit approval. Rates and terms are subject to change without notice.