How does the appraisal affect my loan?

Lenders give loans based on the appraisal estimate of the fair market value of the home. The loan amount is based on the loan-to-value (LTV) which compares the ratio of the loan to the value of the home being purchased. Semper can’t lend you more than the appraised value, so having an appraisal come in on target or above, is ideal.