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First, I had a pre-approval letter from Mortgage Unlimited on XX/XX/2019 for a loan amount of {$540000.00} with my brother in law as a co-signer for a property located in XXXX. The purchase price for the house is {$610000.00}, and agree to make a downpayment of {$100000.00}. I had entered in a contract with the seller and made a first down payment of {$15000.00}, and pay general inspection for {$1400.00} and a tank sweep requested by my lawyer {$350.00}, and my lawyer fees are {$1500.00} plus any additional fees that will incurred until closing. Before all of that I told my lender that my uncle told me that for the FHH loan, the property will have to pass a self sufficiency test because it's 3 units. He told me this rule will not apply to my case and I didn't know what I was talking about. Then, after I submitted all required documents, on XX/XX/2019 I received an approval letter, and this before the appraisal that I have gave my card information long before for payment. The appraisal was finally ordered by them on XX/XX/XXXX and charged me {$650.00} for it, and made me have paid for home insurance on the property for the amount of {$1600.00} effective on XX/XX/XXXX ( the targeting closing date ). I have told my current landlord that I will move out some time after XX/XX/XXXX because of the lender assured me the loan is already approved. I also paid some money to someone who had a truck to help me moving out and ordered a refrigerator and some furnitures because I was sure that I was moving out soon. Then, on XX/XX/XXXX, the lender called me to tell me that I'm not going to have the loan because the property did not pass the self-sufficiency test, that is 75 % of the rental income need to be the monthly payment. Something that I previously told him I was worrying about. Now, my daughter and I are XXXX because my landlord already have tenants for XX/XX/XXXX. I put my stuff in storage and currently living in my sister 's house. I even changed my address because I wanted my daughter to register with the neighborhood 's school as soon as school is opened. I don't understand how a lender with years of experience misrepresentation a loan like that make me spend my money, my time, and my energy. I signed a lot of documents including closure disclosure, submitting endless documents in a promptly matter and even locked my rate. I think it's really unfair and was a victim of fraud and being lied to. I am a single mother who was trying to do what best for my daughter and now she doesn't even have a home and a school to go to, and losing about {$20000.00} because I was misleading by this lender and this mortgage company. Please Help!!!
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