Need Advice! First home SOS

Bit long but please advise

Put an offer down with an FHA loan at listing price. Seller was interested b/c we had the cleanest offer but asked us to change to conventional. We got pre approved for conventional as well and we switched to conventional and the offer was accepted. Purchase agreement was signed. Earnest money was paid.

After loan officer ran my credit again today they said I am 2 points under the threshold for the conventional loan. Bank is saying they can no longer go the conventional route and we must switch to FHA.

I am so afraid of what this will entail with the future of my home.

I have hope in the fact that we initially put our offer down with FHA and they still reached out to us and asked us to switch to conventional. Hoping it would be easier to sell now to a ready buyer than re listing the home and having to put it back on the market.

We have all the finances ready and my loan officer said he would talk to the seller and tell them about how we are only 2 points under the threshold. Also that this would not change closing date or delay the process. He would also say that the appraisal is already ordered.

What do you guys think? Any advice or insight into this? I am so nervous and afraid. I love this home and it would be my first home.

submitted by /u/yamiimamiii
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