We put 25% down and financed the rest through a local mortgage company.

I am able to consistently pay down the HELOC using my personal paychecks and some early rental income, and I am making progress, though there is a good balance currently.I'm thinking about changing these all to fixed 30 year mortgages.

But my question is, will I get the bank loan/mortgage that I was preapproved for?

I will not have a mortgage on the house. 

Problem is the mortgage hasn't been paid in about 15 months.

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Our LTV is less than 50% ( yes no risk at all for the bank, and we have top credit score.We already paid the appraisal, environment fee, wasted countless hours etc...The texts in LOI: Financial covenants:-- Min DCR based on actual rents for the first trust deed of 1.25:1.00 based on a 25 year amortization by the end of 2018.And in the loan doc---Property is to maintain a 1.25:1.00 Debt Service Coverage Ratio, tested annually.We would not have paid the fee and sign the LOI, had he included the phrase tested annually.Please understand that the loan  will be for 10 years long, and we are very confident that we will always have fund for the monthly mortgage payment.

In either case, after six months i hope to have a tenant there and refinance with a conventional mortgage 

The down side is the payment on her home would be about what we would make from a long term renter (maybe $100 more than the mortgage a month). 

Please suggest mortgage company where I can work with flexible work schedule.