Say I got approved for an X amount of dollars a couple months ago then pay down a couple credit cards and get a raise. Can I re-apply to get a higher loan amount since I have to re-apply after 90 days?

 

Your debt to income ratio has changed, so you should be able to. Not sure how much more you'll actually get unless you freed up quite a bit of monthly salary, but can't hurt to ask if you have to re-apply anyway...

That said, I'd use as little as possible of the approved amount and let the money work for you on other investments (or improvements to the property).

 

I'm not sure if the pay raise would have any effect this soon, I'd talk to the loan officer at the bank where you were pre approved

 

Is this the right forum for this question?

 

Thanks for the replies guys

yeah I wasn't sure where to post it, but posted it here since it's about house buying

 

Tough call between M&I and here, but being he's buying a home, probably better here...

We can always move if we change our mind