question about home mortgages?

Quick question. My grandfather had his home appraised for 155,000. He wants to sell my husband and I his home for 100,000. My question is would we be able to take out a mortage for 150,000 even though he is only charging us 100,000 for the home? We wanted to use the additional money to do some remodeling on the home. Thanks

Register New Account
Reset Password