Can you be denied your mortgage on closing day?

In most cases, once your loan is approved by an underwriter there should be no change to the approval. However, most approvals require the reverification of employement, credit and a few other things that have the possibility of changing between the initial verification and closing. If any of these reverified items change for the worse it can change the approval.

It's possible. As stated, there are some conditions for your approval which have to be verified or documented the day of closing. If you go out and buy a car the day of closing with a new loan that could be flagged and cancel your approval; i've had customers who left their job a day or so prior to closing thinking they were approved and it wouldn't matter. So, yes -it's possible if not common.

Yes.. you can be denied anytime up till the the loan is funded and the deed is recorded.. However, if you loan is approved and the lender went so far as to produce loan doc's, then unless they find something that wasn't initially disclosed, or if they suspect loan fraud, it's unlikely you will be denied on the day of closing.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com