Property Q&A in Van Nuys>Question Details

reenk03, Home Buyer in Van Nuys, CA

What if I'm approved for $200K loan and interested in $280K home? Am I allowed to get other lenders for that amount?

Asked by reenk03, Van Nuys, CA Sun Sep 16, 2012

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This question is about this property: http://www.trulia.com/property/3095303057-16740-Tim-Ln-Van-N…

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Hi, there isn't any reason that you can't go to another lender, but you can also ask the lender who approved you if they can increase the amount. It isn't so much based on the lender, but it's whether or not your financial picture qualifies you for the higher loan.

One very important thing to note though: if they change the loan program to a different one in order to get you approved, be sure that you really understand what the new program is all about so that it doesn't come back to bite you in the future. Good luck.
0 votes Thank Flag Link Sun Sep 16, 2012
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