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Hello, If I have preapproval for 400k, and I purchase a home worth 400k and put down 80k (20%), can I borrow the remaining of the pre-approved limit towards fixing/upgrading the new home with same loan terms?

thanks,

SSPINGARN · Posted: Tue May 26, 2009 6:57 am Post subject:

no it would become a 203k loan which runs through fha guidelines so it would not be conventional

gmakerley · Posted: Tue May 26, 2009 8:03 am Post subject:

if you are trying to borrow the maximum allowed for a purchase @ $400K, then you ought to put less money down.

sunil87020 · Joined: 04 May 2009 Posts: 339 26.96 Dollars($)

i think it is possible

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Can I use the conventional loan pre-approved limit 2 upgrade