Can I get a mortgage that is more than the purchase price of the home to withdraw cash?

No you can not - what you can do is get a FHA 203 loan that will allow extra money for some repairs There are rules to this type of loan for more details, Please contact me www HOMEMORTGAGEXPERT.com

In years past prior the housing bubble you could absolutely get a mortgage above and beyond the purchase price. Today that is not an option. If you have any further mortgage related questions, be free to stop by our office in downtown Crown Point. Go CUBS!

No. If you are wanting to get cash to do work on the home you may want to look into an FHA 203K this will allow you to escrow funds that can be financed to pay a contractor. Usually the only time you can get cash back is if you are refinancing a home and the home has equity, there are also limits on how much cash out you can get back on those. I am in the Lafayette area if you would like to call 765.413.8806 my name is Tracy

No, via FHA 203K purchase loan you can get money for home improvements but that would be your only mortgage option to receive money at closing.

No you may not get a mortgage that is more than a purchase price to withdraw Cash. As others have mentioned you have the option of the FHA 203k Home improvement loan, or the USDA Rural Development loan should you live in an acceptable rural area. This loan would allow you to purchase a home with no money down and allow 6% concessions to cover any and all costs. This would allow you to keep any cash on hand you have and pay no out of pocket money on the purchase of your home. I am currently waiting for approval on lending in Indiana and would be happy to answer any additional questions you have.

No, unless you want it for repairs then you can try and do a specific type of loan to get cash to do repairs. Talk to a local broker.

FHA 203k will give you funds for certain repairs/upgrades only. Work with a local lender who is familiar with this product as they are a bit tricky.

In some situations, such as inheritance, or FHA 203K rehab purchase loans. I am a specialist in unique transactions.

Rehab Loans Only. However, once you purchase the porperty you can do is buy it now and do a cashout refinance after you have made 6 payments

NO

NO...