If a buyer doing a 75/25 combo needs a seller concession for closing costs and the total mortgage amount is increased $5,000 to cover this concession, does the appraisal still have to come in at the total mortgage amount?

For some reason, I thought that with a combo loan, 75% for first and 25% for second, the appraisal can still come in low, as long as it's higher than the 75% loan. Not much lower, just by the $5000 concession.

Unfortunately, the appraisal needs to come in for the full purchase price of the property. The rule is lenders use the lower of the purchase price or appraisal to base the mortgage (and LTV/CLTV) off of. Sorry.

Ditto.