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I’ve been preapproved for a mortgage, I was wondering how common it is for people to get preapproved for a mortgage but not get approved for the loan if nothing changes with their credit status between the two periods?

2 Thoughts on mortgage preapproval/approval?
  1. Reply
    February 9, 2014 at 10:48 am

    Pre approval depends upon your credit and your income. As long as the info you told them is accurate and truthful then you should be ok.

  2. Reply
    February 9, 2014 at 11:02 am

    Pre approval is generally based on your verbally stated income and liabilities and a credit check.
    When the full loan qualification process starts, sometimes things pop up that the lender was not made aware of and the loan can be denied.

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