Buyers PreQualified, But Want Down Payment Assistance

[Iris Burrows]

Hello BP Community!

I am a brand new agent, have some experience in and around the industry, but I just have to throw this idea out before sharing with my clients.

They have been approved for a healthy conventional loan, 3% down, but the house they want is at the top of their price range. The market in Atlanta is a little inflated right now, so everything will cost a lot, but they don't want to max out on their budget in case anything goes wrong...which...Murphy's Law. 

I told them about some of the Down Payment Programs and they would qualify for at least 5 of them. Only thing is, they would have to go through a different lender, because their existing lender has no affiliation whatsoever with any of the programs. 

Would it make sense for them to change lenders? Would it be in their best interest to wait on the Down Payment Programs to approve them and for them to go through that process, even though there is a home they want right now?

Looking for another perspective. Thank you!

Iris