New Construction Home Funding Dilemma
**Posting for a Friend**
I have a friend that is closing on his home Monday 06/29, He has been working with a non builders lender but when he had called his lender if everything was good to go on Saturday for Monday 06/29, the lender mentioned Fannie Mae has flag the loan for too few comps. The initial appraisal came in 11k higher and it appraised, but Fannie Mae want it more comps. The lender has worked with the builder to get more comps. my friend is clear to close, but he is worried if lender will be able to fund. there is second appraisal schedule for tomorrow by the lender and to be send over to the lender by EOD Monday so funding can happen.
Is there any option or backup option he can do at this time so he can close on this home?
Thank you!