Denied financing due to home conditionWe found an older house on a huge lot that was offered at 250K. We knew there were issues (missing deck, new siding needed, etc) so we offered 220K, it was accepted. After inspection, more issues were identified so we settled on 205K with 55k down. We have excellent credit (over 800 scores) and another home with over 150K in equity as well as other liquid assets so we never thought financing was an issue. Well, they turned us down due to unacceptable appraisal. I understand it was not the appraisal amount but rather the lack of true comparables in the price range. In any case, the lender has no interest in working with us. The realtor thinks we should try another lender but I am now worried that the house is not a good deal at 205K. Any thoughts?December 06 2009 - Portland00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.