we've been pre-approved, can we still be denied a mortgage?

amy

New member
We were pre-approved for a home loan. We found a house and are scheduled to close in about 2 weeks, but we still haven't received a final approval from our lender. We're getting nervous. Is it possible that we might be denied even though we have a pre-approval for almost $20k more than the house we're purchasing?
40%? Please tell me where you got that statistic.
The application has been with the processor all week and will be sent to the underwriter either today or Monday.
 
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