Susan, An experienced mortgage loan officer can answer your question best. They deal with this every day and know the criteria in effect at the moment. I suggest using local mortgage companies because you maintain more control over the process if all the players are here in town and know each other. For instance, it is great if the loan officer know the loan processor and the underwriter so they can deal with issues as they arise. Here are some locals who will give you direct answers to your questions:
Luke Gutierrez, Frost Mortgage, 505-610-6368
Stephan Q. Le, Wells Fargo, 765-5164
Be very careful if you use an out-of-state lender. The loan officer might be in Phoenix and the loan processor in Minnesota and they might not know each other. There is also little chance your real estate broker will personally know anyone at the lender so you lose the power and know-how of an experienced broker. Good luck.
P. S. I get no monetary remuneration of any kind whatsoever if you use the lenders I have listed.