A pre-approval is given based upon the information that is on the intial application. and documentation that is obtained to support income, assets, and future documentation that is to be cleared. There is a saying in the mortgage industry.... Junk IN.... Junk Out. If the mortgage planner also verified what would be conditioned prior to submitting to underwriting and anticipating what the underwriter would need for aClearance to Close this would not happen unless the basis of the pre-approval was not valid from the start.

You should have been informed by the previous lender why your fiancing was declined. It may be something that can be worked around since it is now known and anticipated.

If I can be of any assistance feel free to email me from my profile.

Mary - A pre approval was obtained after the lender checked on certain financial information on you, but they will do more in-depth investigation on the risk of lending the money to you before final 'underwriter' approval - since it's more in depth and the rules are more stringent, it is possible for the loan to fall through right before closing. Unfortunately, but it does happen, especially in this tightening credit market,

What does your Realtor / mortgage broker say? - You might be able to provide information to help reverse the decision?

Good luck,
Sylvia Barry

Could be almost anything....did you open up a new credit account? charge on your credit cards? do anything to increase your debt?It could also have to do with the appraisal...what does your Realtor say?