Shame on Agents who lacks further explanation on what that "negotiated" and agreed upon 3% really means. 

If for example you have a 650 FICO, are looking for a 70% LTV loan, and have 2 years experience and this falls in their tier 3 which shows a 4.5% rate but they then issue you a 3.6% rate because you're going back and forth negotiating, this would be an exception to their guidelines and would need to be documented with an explanation for the exception.It's not good practice to make exceptions, especially because these lenders usually then sell their loans to investors and investors buy their loans after a review of their guidelines.

The underwriter will definitely ask for a letter of explanation as to why you are moving.  

If checked Subject to Existing Mortgages/Loans: (See paragraph XVIII for explanation)Buyer is buying property Subject to the Existing Mortgage(s)/Loan(s) encumbering the property in the amounts not to exceed: $______________. 00.If the existing balances at the time of closing are less than the amounts stated above, purchase price will be reduced by the difference.

@Cornelius Garland Thanks for the detailed explanation.

As for going to the post office to rectify the situation, I would request to speak to the actual Postmaster or a Supervisor, as they will have the most accurate information, as well as the most influence over the situation.I know this is probably an overly long explanation, but I hope it helps.

Just make sure you void any blank checks you have – just in case.Here is a portion of my Sub2 agreementIf checked Subject to Existing Mortgages/Loans: (See paragraph XVIII for explanation)Buyer is buying property Subject to the Existing Mortgage(s)/Loan(s) encumbering the property in the amounts not to exceed: $.I.If the existing balances at the time of closing are less than the amounts stated above, purchase price will be reduced by the difference.

Brief explanation of the home’s conditions...

If checked Subject to Existing Mortgages/Loans: (See paragraph XVIII for explanation)Buyer is buying property Subject to the Existing Mortgage(s)/Loan(s) encumbering the property in the amounts not to exceed:​ $______________. 00.If the existing balances at the time of closing are less than the amounts stated above, purchase price will be reduced by the difference.

Let's structure the wholesalers' explanation: "Well, I actually know a physician and when the time comes to do the operation I will get a physician in the room, but in the meantime you pay me $15K for the operation and I will pay the surgeon $10K for it.