The loan amount will be decided by your CLADD (Credit, Liabilities, Assets, Debt to income ratios and Down payment
However, the great "Community Organizer" and Barney Frank have crippled lending in America with the crushing over-regulations in this anti-consumer Dodd Frank Financial Reform Act.
BTW- only 40% of this nasty bill has been implemented with 60% to go, so you had better act quickly if you want to qualify for the highest Loan Amount.
You decide if you want to spend all your loan or buy something for less than your approved amount.
In some cases you may buy more than the loan amount, if you bring CASH to pay for the diference.