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I am not an underwriter, but even if I was there'd be too many unknowns to say for certain. That said, based on the last 20 years' track record of lending institutions in this country, I am pretty confident they'd get a loan without much issue.

Based on some of these responses, I have a sense a lot of people here aren't homeowners. Assuming a $400K home --> 10% down for a first time buyer --> $40K + taxes and closing costs (we can round that up to $50K, though it should be less). That's about $2.5K a month in principal + interest for...