Loans from the bank with limited money given
Hi guys, I currently live in Saskatoon, Canada (I cant find my city so I have to use Edmonton, but still in Canada. I've got a question about loans from the bank.
By going thru many podcasts and books of real estates, most of the tips are saving money to have enough and we leverage it to get a house we want but when I get to the bank to ask for a pre-approved loan, they told me that there is a limit to any loans given, and the maximum they can loan me is 200k base on my income statements, I have a job and have no bad credits.
The question is most of the examples from the books and podcasters are seem to be unlimited loans, so is there a way that we can get there to get an unlimited loan??
for example: I have saved up 60k this year, I found a house worth 300k, my available cash is 20% of the house value but because of the limit of the loan from the bank, I can just get a 260k house, is there a way a can widen my limit or get that house but not having to save up to 100k cuz the opportunity will be gone by the time I have had enough money.