Pre-Approval vs. What's needed

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Hello,

I am very new to everything and just had a questions regarding a pre-approval vs. home purchase amount.

We already were pre-approved for $125K and for a house we are looking to buy, it is $126K (after negotiations).

Now my question is, are they able to raise the final loan amount to $126K? Or since it was pre-approved for $125K, would it cause issues trying to get 126K or am I stuck at 125K?

We would have the extra $1,000 but I would rather have that in savings to be honest.

To give an idea, the agreed closing date is 06/10.

Thanks!

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darkpontiac

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Posted: 8 years ago
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