Hayes
It sounds like whoever pre-approved you for this loan made a huge mistake. A difference of $230 a month is inexcusable. Does the loan officer have any explanation for this? They should have provided you with a "good faith estimate" of payments and closing costs before you ever even made the offer. It should say in your purchase contract that the sale is contingent upon you qualifying for the loan that was originally quoted to you. If the payment is going to be too high then don't buy the house. It is up to the escrow/title company to decide on dispursement of the earnest money pursuant to the terms of the contract. Your loan officer needs to step up and give a good explanation for this! Sorry for your troubles. Good luck.