The answer to your question is no, the lender will not loan you the extra $20,000. The lender will only loan you 80% of the market value of the home. Reason being is that if for any reason you should default on your mortgage, they want to be sure that they will be able to recoup the money they lent you.
If you qualify, there are many programs that will assist the seller with down money and closing costs. Check with your lender to see if you qualify for any of them.
Brigita McKelvie, REALTOR, e-PRO, GRI
Keller Williams Real Estate, Bethlehem, PA
Office: 610-867-8888 Direct: 610-393-9424