Am I obligated to use the loan approval?

No. Your loan approval is valid up to four months from the day you are approved. Should you decide not to use it immediately, it will remain in our system until expiration. If you would like to use a portion of the approval immediately, and wait a couple of months to use more, and so on, you are able to do that as well. In the event that your approval expires in the middle of your project, we can re-approve as soon as it expires and the project continues. You can also come back to us after an untouched approval has expired and we are happy to renew it for you.