The agreement of sale has a mortgage contingency and if the terms of the mortgage cannot be met you have the option to back out of the deal and recoup your deposit.
However you may still be able to buy the rate down to 8.25% and meet the requirements
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960