Can banks lend money for a house that costs less?

[Account Closed]

Lets say someone wants to buy a house for 150,000 but the real value of the house is 140,000 will the person still get the loan? Or the bank wont let the person get it?

--If banks wouldnt lend the person, then

Here is my another question--

Does that mean that if someone has a mortgage for 100,000

And i get it for 70,000 it means ím getting profit because banks wouldnt lend for a property that its worth less than the real value ?