Your agent must have not explained this to you. If you are pre-approved you do not get the difference when you purchase your home. If this is a reconstructive loan (203K) you can use the difference which would be built into your mortgage to make the home habiltal. If you are in need of an agent I would love to help you get RESULTS!
It sounds like you are not yet aligned with a Buyer's Agent, which you certainly are in need of now.
Please visit the link below to learn more, and feel free to contact me as I would like to discuss this with you further.
Real Estate One
The loan you were approved for is one that is based on the purchase of a home that will appraise for at least the loan amount. Based on your present loan pre-approval you wuld not be eligible for additional funds unless your loan was modified to include repairs.
Our recommendation is for you to speak with your mortgage consultant for this information.
The Eckler Team