Although interest rates are on the rise, it's still a great time to purchase a home. Speak with one of our expert loan officers today!

What is an appraisal gap clause?

If a buyer agrees to pay more for a home than it appraises for, the appraisal gap clause is their way out of the sale contract without losing earnest money. The difference between the two figures can be bridged with cash, a lower sale price or some other agreement between buyer and seller.

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