A. Typically when a bank counter offers your loan it is there way of saying that they feel it is a bit risky and they really do not feel comfortable wit the way that the loan is currently structured. Typically your loan officer will tell you what needs to be done to get the loan a final approval. It may be that the bank wants more money down, more assets, another borrower added to the loan, etc.
A. In most cases probably not. There is a reason that the bank is asking to see certain things or has counter offered the loan. Remember it is there money that's being lent out and they have to feel comfortable doing so.
A. When working with a mortgage professional, that person will usually do all they can do try and get the loan approved. If you are working with a broker they may have more resources and more options as far as different banks they can send the loan to. If you are working with a local bank, then the chances are they are going to stick to there initial decision and may recommend that you try elsewhere.
A. If a loan was originally sent to a bank with certain information in the file and then that information for whatever reason changed, the bank reserves the right to change there mind from the initial decision they had made. It is very important that you provide your loan professional with all of the documents that he or she requests from you when you are considering application for a mortgage loan.
A. No. an appraisal is something that is typically paid for up front from the interested buyer. It is not the banks fault that you could not meet there requests.