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The amount of cash you can put down is of major importance to prospective lenders. It's also important to understand that lenders are generally unwilling to make loans for more than what a property is worth. This explains why appraisals play such a vital part of the application process. If the appraisal finds that the property is not worth the asking price you will have to either renegotiate with the seller or her or his representatives or forget the house. The reason for this is that if you were able to get a loan for more than the house is worth you would immediately be "upside down” and might end up having to default.