Shop rates, (fha will always be some what higher because it is a riskier loan for lender). That spoken loan officers quote different rates and because you were pre approved by one does not meam you are obligated to use that one. If you wish to pull out after signing contract there is only one person to talk to. Your attorney!
Once a contract is signed its the attorney who is in control of the transaction. Good luck and Happy Holidays!
You may also want to get a 2nd opinion on the loan. Talk to another lender.
But let me ask you this - do you still want to buy the house? If so, is there an amount the sellers can contribute to you help lower your payments or free up some cash so you can proceed? You can negotiate the contract as part of your home inspection - closing costs e.g.
If your financial situation has changed since initially applying for your mortgage or if you expect that it may, you should consider taking this information to your lender. This adjustment may change your qualifications for the mortgage and create an avenue to exit the agreement.
Our recommendation is to begin by consulting youe lender to review your application. If you doubt your financial ability to handle this, they should hear and understand your concerns. They also may be able to find the confidence you require to complete your transaction.
Best of luck,
Secondly... you should have known your numbers before you wrote the offer... Best not to shop without the financials in order...
Run to your realtors office! Good luck
Unwavering Commitment to Service