Because lenders typically loan only 80 percent of a home’s value, if the house you want to buy appraises low, you won’t get the entire loan amount.

Let’s go over how the appraisal process works, along with a few of its finer points, and then discuss what to do in the event of a low appraisal.

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Having an appraisal come in low is of course just as upsetting to a seller. When something like a low appraisal comes from out of left field, it can leave everyone disturbed. Considering what an impact a low appraisal can have on the home selling and home buying process, it is a good idea to educate yourself on what factors can lead to a low appraisal.

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How often a home appraisal comes in low depends on the neighborhood and market conditions. Currently Equity Now, for example, is seeing 2 to 5 percent of appraisals come in short, Hackett says. The.

However, the appraisal comes in low at $95,000 which becomes the new maximum home value. Recalculating the 80% LTV on the new $95,000 appraised value pushes down the maximum loan amount to $76,000. The seller holds steady at their $100,000 asking price.

An appraisal that comes in lower is a perfect opportunity to renegotiate the purchase price. Also, if you are getting a loan, most lenders won’t approve a loan that is higher than the appraised price." -Zillow Advice user blub blub blub, February 02 2013 "Use your appraisal contingency to renegotiate or walk.

If the appraisal is low, a cash-in refinance can help you reach 80% equity and avoid private mortgage insurance. If you’re underwater, you may have to wait for home values to rise. 1:36

Buying A Second Home Down Payment . 20 percent of the down payment, in order to avoid paying the private insurance on top of the mortgage, “which, by the way, does nothing to the principle or the amount of the loan. It’s an extra.

This makes the appraiser’s job easier.” If the appraisal still comes in too low, Mr. Heithaus said the sales price may have to be adjusted if the lender is not willing to have another appraisal done..

If your home received a low refinance appraisal, don't panic. Here are 6 steps you can take that could improve your results.