House under contract loan rejected

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Hey folks, 

I am under contract with no contingencies to purchase a home, which will be my primary residence. My credit history is not great (missed couple of payments few years back) and I am having tough time securing a loan (borrowing close to million dollars). My Debt to income ratio is good and I am doing a 20% down. Are there any other options for me to go thru if non of the banks approve my loan? Do I lose my 3% earnest money?