Can a Loan be Denied After Approval?
Yes, a loan can be denied after approval, but this is rare. There are some possible reasons why this could happen, such as:
> A change in your employment status or income
> A change in the lender’s assessment rate or lending criteria
> A change in the property value or condition
> A failure to provide the required documents or information
> ccA discovery of fraud or misrepresentation in your application
To avoid having your loan denied after approval, you should:
> Inform your lender of any changes in your financial situation or personal details
> Provide all the documents and information requested by your lender as soon as possible
> Maintain a good credit score and avoid taking on new debts
> Follow the instructions and conditions given by your lender
> Be honest and accurate in your application