Posted on: 08th Oct, 2013 01:11 am
We have been pre-approved for a loan by a lender. We will now start looking for a property. Are there changes that even after pre-approval, the lender may reject our loan application?
If something drastically changes in your credit report or if you lose your employment, then there are chances that your loan application will be rejected.
Your pre-approval on the can be rejected if you lose your job or there is an acute negative change in the credit report.
You could have your loan application rejected, if you've forged your documents to get pre-approved and the lender may go the extent of filing a lawsuit against you for cheating on him.
Your loan may get rejected if you provide false information on the loan application and the lender gets to know about it. Also, if you lose your job suddenly, then the lender will not agree to provide you the loan.