When is the mortgage application or commitment letter final? I’ve been approved for a loan product that would

require that I put down only 3% down. The bank also informed me that I could take out an additional loan, fixed rate. This additional loan would help with all closing costs as well as some of the down payment because I want to put down 5%.
My initial preapproval was for 5 % down requirement for a purchase price of about 340K. When I place the offer on a home I loved, the offer was 90K lower than what I was approved for. However, the listing price was also much lower. My agent suggested that acquire another preapproval to the seller less than what I was preapproved for. The new preapproval should show that I am approved for the offer price. When the bank put the preapproval request in, it was at 20% down and my bank broker told me not to panic. When she put my application together, it still showed that it was 20% down loan. Now I’m screwed! The loan that I can get “to help pay with closing costs” does not even cover all of the 15%. It does not help me. Can this be changed?
The contract states that I’m only putting 5% down. So with regards to the contract, I’m not in breach of anything. However, shouldn’t the loan also state that I’m putting 5% down too. Since we have not got to closing, is it possible to change things without having to go through the underwriting process again. The broker I’ve been working with is on vacation but should have returned. In her absence, I’ve been dealing with her colleague who has answered my questions to the best of her knowledge but I’m still confused. Because all along, I’ve been going on the notion that I was only required to put 5% down. Also, naive me thought the larger loan would pay for part of the downpayment and closing costs and the balance would go to me for any cosmetic work I wanted or needed to do on the house that would not credited by the seller. The plot thickens.
Also, going to another lender may be an option to consider but another lender will hit my credti history and further reduce my score.

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