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What are some reasons your mortgage loan may be denied the day of closing?

by justin.mchood249 from Miami, Florida. Sep 23rd 2014 Reply


Barbara Jackson (bjackson@icghome.com)
#247 ranked lender in Florida - 1 contribution

none i can think of give me a call. so when can discuss 904-900-7727 or email me @ bjackson@icghome.com

Sep 23rd 2014
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Joseph Afonso (jafonso)
#64 ranked lender in Arizona - 197 contributions

There could be many reasons why but if the loan officer did a through job when he/she qualified you this shouldn't of had happened. If you would like for me to review you loan give me a call 602-531-7040.

Sep 23rd 2014
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

The only reason I can think of is if the lender found out the borrower was no longer working or something new that was not known prior came to light at the last minute. However, finding something that late in the process is very rare.

Sep 23rd 2014
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions

There are a few potential reasons... Understand the loan is not likely to have been denied the day of closing. Rather, the most likely reason is that it was never yet been fully approved, regardless of what you were being told. Another potential option is that lenders still check out clients right up to the last minute. Lenders are required to re-verify employment within the last few days before closing, and even maybe pull new credit. If you lost your job, or you added new debt, that could equal a last minute denial.

Sep 24th 2014
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