Reapplying for a lower amount won't change the approval decision if nothing else about your application has changed.
The amount you select during the application process gives Possible a target to reach for, so there's no harm in selecting the maximum amount you'd like to receive.
When your application is reviewed, Possible considers all amounts up to the amount you've selected. Possible always offers the most that can be safely lended for every application.
For example, if you apply for a $350 loan but Possible’s algorithm determines that you can safely be lent $200, you will still be approved for $200.