No. Percentages factor in too. The lender is concerned with its risk when deciding whether to issue a home loan. This situation changes the percentage of the home's value the lender is issuing even if the dollar amount of the loan doesn't change.
The original loan application had the buyer putting 10% down and the lender issuing a loan for 90% of the home's value.
At the $290K value, the loan of $270K is now about 93% of the home's value so the buyer is really only putting about 7% down with the remaining $10,000 making up the shortfall between the appraisal and sales price.... more