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Can the remainder of a home loan be taken out to do repairs on that home?

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Home Loan

My fiance and I were just approved for a home loan of 85,000 dollars. The house we are really looking at is only 72,000 but needs quite a bit of fixing up. Is it possible that the bank would allow us to take out the remainder of the loan (or however much was needed) to do the necessary repairs on the house?

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