Can you use cash in addition to pre approval amount to increase the price point of a housing search?
Yes. Any property you source that is going to cost more than your ability to borrower will allow, you will have to make up the difference in cash at close.
Thanks Charlie. Now, my fiance might be hitting a bump in the road with her pre approval. The lender said pre approved for 250k, but now says an underwriter has to ok her being a contracted employee. What are your thoughts on if lenders are going weigh that greatly in terms of willingness to lend to a contracted employee? She has been employed for the past 10 years. If a contract ends, she always finds a new job within a few weeks.