HomeWealth Solutions LLC  ·  NMLS #2742458
Appraisal Gap Calculator
Side-by-Side Scenarios — What It Actually Costs When the Appraisal Comes in Short
Doug Smith, CMA®
813-733-7371  ·  doug@homewealthsolutions.com
Appraisal Gap at a Glance
Appraisal Gap
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Contract Price
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Appraised Value
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Gap as % of Contract
The lender lends against the appraised value, not the contract price. The gap is the buyer's responsibility.
Inputs
% of contract price
Scenario Comparison — Funds Needed to Close
✓ Best Case — No Gap
Scenario 1
Appraised = Contract
20% Down
Scenario 2
Appraisal Short
20% Down (of Appraised)
Scenario 3
Appraisal Short
15% Down (of Appraised)
⚠ Mortgage Insurance Required
Scenario 4
Appraisal Short
10% Down (of Appraised)
Cash to Close — Quick Comparison
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Best Case
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Scenario 2 (20% down)
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Scenario 3 (15% down)
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Scenario 4 (10% down + MI)
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Extra Cash vs. Best Case (S2)
Figures shown are for illustration purposes only and do not constitute a loan commitment. All loans subject to credit and property approval. This communication is for informational and educational purposes only and does not constitute an offer to lend or a commitment to make a loan. All loans are subject to credit approval, underwriting guidelines, and property approval. Interest rates, payment examples, programs, and terms are illustrative, vary by borrower qualification, and are subject to change without notice. Not all applicants will qualify. Examples shown do not reflect all costs of a mortgage transaction. Consult a licensed tax or legal advisor regarding your individual situation. HomeWealth Solutions LLC is licensed by the Florida Office of Financial Regulation, Mortgage Broker License #MBR8082. Verify our licensure at www.nmlsconsumeraccess.org. Equal Housing Opportunity.
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