It depends upon when your hard credit report was pulled. Most lenders require a mortgage to close within 120 days of the credit report being pulled for that report to be used.
Yes, you can always cancel a refinance application up until closing. A cancellation might result in paying third-party fees, but the right to cancel is available. In certain situations, you can cancel your refinance application up until 3 days after closing.
Yes, a borrower can switch from self-employed to W2 job and get qualified for a mortgage. How long the borrower will need to be at the new W2 job will depend upon the type of W2 income they get (salaried vs hourly vs commission).
This clause ensures that buyers can reconsider the purchase without losing their earnest money deposit if the home does not appraise for at least the purchase price.
