Can a mortgage bank cancel your pre approval loan?
Written By: admin on June 18, 2009
One Comment
We are first time home buyers and before we start looking for a house, we made sure that we are already pre approved. Can a bank cancel their pre approval even if there are no changes in your credit worthiness and application details when you applied for the loan? What are the common reason? Do we have to do another appraisal if we change lender?
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Tags: application details, credit worthiness, first time home, first time home buyers, mortgage bank, pre approval, time home buyersTags: application details, credit worthiness, first time home, first time home buyers, pre approval, time home buyers
Yes. A lender can deny the loan right up to the day of funding. But it is rare unless your financial circumstances change.