My friend made an offer on a $185K house in South Dakota, and the appraisal came in low by $20K, for $165K. The bank found another appraiser who came in at the offer price. This is a town of 3,000 people. This appraisal shopping is going on nationwide. The bank offered to give my friend a second loan to bridge the gap between the first appraisal and the offer price, in effect giving him 100% financing. This friend has a credit score in the mid 600’s, and it would be first time home purchase. This crazy lending stuff is nationwide.