is it true if i preapprove 300.000 dollards with city loan .i have to buy a house withing certain amount

Asked by Sandy, Brenlan, Round Rock, TX Fri Apr 29, 2011

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..., , Lexington, MA
Mon May 2, 2011
Hi Sandy!

You should ask whoever pre-approved you this question. If you are pre-approved for a sale price of $300,000 or less then anything selling $300,000 or less should get financing approval. Your pre-approval is good for up to 3 months - after that your credit report expires and would need to be re-evaulated.

Feel free to e-mail me directly with any mortgage questions.

0 votes
Melissa Krch…, , Rancho Cucamonga, CA
Mon May 2, 2011
I'd be happy to speak to whomever pre-approved you to double-check but I'm pretty sure that if you are pre-approved for $300,000, you can buy a home for that amount or less.
0 votes
Steven Ornel…, Agent, Fremont, CA
Sat Apr 30, 2011

While your question seems simple to answer, in actuality there are many unknown variables that decide what an accurate answer would be. The fact is that you MAY NOT even have a Pre-Approval!

Please review the following post to understand why this is and to make sure you are protected:

Best, Steve
0 votes
Christopher…, Agent, Methuen, MA
Sat Apr 30, 2011
I would ask the lender this question. They should be able to tell you their policies.
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