Hello all!

Bought my first house in 2015 and over the Years have seen the market go up. Never thought much of it but then I got married. We both have school debt and some CC debt.

Decided why not sell, get rid of our debt and start in a new house we BOTH choose together? In laws have a 2nd house they can let us stay in for a bit until things cool down and we build up more cash.

That being said, over the last few Years I've done work on the house, whole replumb, new hvac, partial electrical. In last 2 months new flooring, interior and exterior paint, new kitchen tile backsplash, new cabinets, hybrid water heater, new toilets, new shower pan (tile), etc etc.

I had it appraised and came out to about 300k. My agent and I put it up for that price. Instantly had viewings same morning. Cash offers. And one family came by fell in love, called their agent and their agent sent my agent an offer that same night.

We really likes them and their vibes as they came by twice the same day to view the house while we were still cleaning out.

Their offer was 2k over, FHA pre approved and with a nice appraisal gap.

Since we felt their vibes were good we went with them. We weren't waiting for the 10k, 20k or 30k over asking. We just want to settle our debt and start a new chapter and this family seemed to want to do the same.

Inspection came back good. Appraisal was done in like 15 mins. But thats all we're waiting for. It's been 4 days now. And all I hear is rates going up and now it's constant back to back news articles about bubble bursting.

So I'm getting a little antsy with the appraisal still not back. I'm hoping they got a rate lock and we can close soon. The contract said 7/11 or before.

I know FHA has its negative reputation but being we got this far in, anything I should be worried about? Would they have gotten this far without a Rate lock so the upcoming raise won't affect them or their DTI?