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If a bank pre-approve your loan can they denied it when you get a house?

I recently was pre-approve for a home loan.  I bidded on a house and the bid was accepted know the bank do is dening my loan.  What should I do? Can they do that after beening pre-approved.
  • July 29 2009 - Detroit
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Answers (2)

We bought last year as the banks were going under. When we started there were over 100 banks doing loans... then a bunch dropped away... then more dropped away... don't panic, contact your agent and your mortgage broker. It's their job to protect your money and get the financing.
  • July 29 2009
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A pre-approval is just that, a before an accual approval. They have not reveiwed all of you information. They base the pre-approval on the information you gave them without verifying anything. When they do their investigation they take more things into consideration. The best thing to do now is to try to be approved by another lender. This is why many of the properties owned by banks they want you to approve through them too. That way if your loan falls apart they can still save the deal.
  • July 29 2009
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