Depends a lot on the deal, how much of your own cash you're still putting in, credit, reserves, etc.

Worse, what if there is a credit freeze due to economic conditions (e.g. 2009) and you can't get another loan at all?

As a buyer, what is the largest "repair credit" or cash at closing from the seller you have seen be approved for a FHFA loan?

Since you seem to have traveled this road before, (I shall let you know what happens with on 1st property with GF); do you know any sources of GAP funding so I can scale up my operations in NJI can get Hard money elsewhere, Have some capital, credit and good FICOAny information would be helpful. 

Both of our credit scores are now hovering around 655 (originally mid to high 700s).

She had about 40-50K in Credit Card Debt. 180K owed on the MTG and house is worth about 230K as-is. 

PMI will be based on your credit score, amount you put down, and the overall debt to income ratio.

Pre-qualified is mainly a credit check.

What actually happened was that her credit score is a 600, her yearly income is $10k, and she has two pit bulls.

The scammers offered her a great deal on rent with no credit check if she provided them a hefty deposit.