Hi! I was approved for FHA, the seller liked our offer because it was clean but asked us to change to conventional. We changed loan to conventional and the offer was accepted/ purchase agreement signed. My bank is now saying my credit score is 2 points under the threshold for conventional after checking credit again. They want to change the loan to FHA and can no longer approve the conventional. The inspector is inspecting the home tomorrow morning. I am so nervous about having to switch to an FHA and the seller not wanting to go through. Do you guys have any advice or insight into this?
I have hope that we initially put our offer in with FHA and then they talked to us and gave us the counter offer of us switching to conventional. Maybe they will accept the FHA now since it's due to the bank and not because I wanted that.
I have hope that it would be a bigger pain to start over and re list the house when we already paid the earnest money.
I do not want to lose this home. I am so excited to finally buy a home.
