Best of luck,
Unwavering Commitment to Service
Discuss with your Realtor and or your Real Estate attorney....
But it happens quite a bit!
Take care and good luck to you
Edith YourRealtor4Life & Chicago Connection
Working always in the very BEST interest of her clients
Your agent has your contract and should be your first stop with questions like this. As Dave & Lisa indicate this is not uncommon, but it may also mean your home is off the market longer if they don't get approved for a mortgage.
If I were your agent I would be asking a lot of questions about what the problems seem to be and if I had a doubt about them qualifying, I might request part of the earnest money be released to you in exchange for extending the mortgage commitment date. In the event they don't get approved you get something, if they do get approved it's still applied toward their purchase.
This isn't to be tried lightly. Discuss it in detail with your agent and understand it may get them to just terminate as well.
Moving forward is the key to closing. It can go wrong as it sometimes does but at this point we suggest you keep in contact with your realtor and lawyer for your updates..
All the Best
Dave & Lisa