you can negotiate or put more money down. If you need a realtor I can assist you to make sure this doesn't happen because you get pre approved first and then you want to start searching for a home that is in your budget to eliminate this sort of thing from happening. Please contact me at your earliest convenience.
The MCC Program might be your solution. Ask your lender if they offer this. If not, call me.
The MCC program is a tax credit from the IRS for home buyers who have not owned a home in last 3 years.Lenders can use this tax credit to help you qualify for a little more than you normally would be qualified for.
This program is used on conjunction with Conventional, FHA, VA, and USDA loans.
Vino Alonzo, Loan Officer
First Cal Mortgage