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Approved for More |
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If I am approved for a loan but the property is less than the approval amount, may I still get the approved amount to help with home purchasesetc? |
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It isn't enough for you to qualify to borrow a certain amount; the house must qualify to be worth a loan of that size. You cannot borrow more than the value of the property, and for most mortgage programs you must borrow less, no matter how much you could qualify for.
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Edith
Originally published on November 23, 2007 |
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