This is exactly what's going on.Ask them to send proof of funds or pre-approval letter first.

A lot of properties don't enough spread to even meet that minimum, so it just ends up being the new assessment ratio.It's actually really easy to fill out the application and submit, but they will not respond and tell you whether or not it's been approved.

@Jamaal SmithIn Florida, the property appraiser provides a detailed mailing showing all taxes for last year, as well as the proposed taxes for the current year with any increases, as well as a column if the increases aren't approved (or something like that.)I think I missed the fact that you say this was a $600 increase per MONTH!  

Avon, CT is a hot market, with multiple offers being received the weekend of the open house, which is scheduled one week after listing.My offer of $725,000 was $20,000 lower than the highest bid, but was accepted without counter because it was not contingent on financing, while the highest offer at $745,000, while the buyer had pre approval financing, was subject to financing.

The ones that do ask you for a budget will scrutinize your planning and make sure they agree with your numbers prior to issuing a loan approval.   

I work with a great lender team that can get you an initial ‘Pre Approval’ or letter of intent. 

Sure, you can get a conditional approval very easily, but satisfying all the conditions the lender and/or investor has required often can be difficult if not impossible.

Hi Matt, From what I can understand the process can take between 8-10 weeks for approval and is only needed if you will be renting the property for more than 90 days a year. 

Nonetheless, the State Bond Commission approved the funding extension.

I reached out to them and became pre-approved for a certain amount.