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Cannot do new appraisal as it was done 2 months ago

My preapproval was originally for $390k conventional loan. Then we went into negotiation with the seller and ended at $430k. I received a preapproval letter for this and made the offer. We are going through underwriting, and they can only offer an FHA mortgage based on the downpayment amount and the type of property.

We reached out to the seller's agent and found out the house was appraised at $380k less than 2 months ago, and the initial buyer was using FHA. I am working with my agent, broker, lender, google.... but is there any practical thing I can do to get this house? I don't have the amount to fill the gap.

submitted by /u/Justbrownsuga
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source https://www.reddit.com/r/RealEstate/comments/1s7w6gw/cannot_do_new_appraisal_as_it_was_done_2_months/
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