<p> Everything was going along smoothly. You did exactly what you were told and sent in all your documentation to your lender. You pulled your old tax returns and got copies of your bank statements and provided a copy of your insurance policy. But your lender changed their mind and your approval is in peril. What happened? </p><p> When a consumer completes an initial loan application it's usually the very first piece of paperwork completed when a mortgage loan is being considered. The loan application is five pages long and has multiple boxes, fields and free space for you to complete. The lender wants to know who you are, if you're married, your social security number... pretty much everything about you. </p><p> The lender will review your application then forward to you a list of documents needed as well as a host of loan disclosures for you to review and sign. You do as you're told, review the documents and sign them then return them to your lender. </p><p> You feel comfortable so far in the mortgage process because your lender sent a preapproval letter to you a couple of weeks ago so you just sit back and wait for your loan closing. But then you get a phone call from your loan officer: "Hey, we might have a problem" he says. </p><p> The loan approval you had in your hand is no longer valid unless we can address a problem with the application. Your lender wants you to explain why your year to date income is less than what you made last year and the underwriter is concerned that if your income continues to decline you'll not be able to afford the house. </p><p> When a consumer sends in their loan documentation it will be picked apart and analyzed to make sure the loan conforms to lending standards. If you received your preapproval letter from the lender before you submitted your tax returns and paycheck stubs that information will need to be reviewed before an official approval can be issued. </p><p> In your instance, you took some time off for work due to an accident but are now just fine and back to work in good health. You document your accident with a letter from your doctor and your employer and the underwriter is satisfied. Your approval is back on track. </p><p> As a loan is being reviewed, questions can arise. And lenders certainly can't anticipate everything. But when your loan officer calls <a href="https://www.home247.co/%E0%B8%82%E0%B8%B2%E0%B8%A2%E0%B8%84%E0%B8%AD%E0%B8%99%E0%B9%82%E0%B8%94%E0%B8%A1%E0%B8%B7%E0%B8%AD%E0%B8%AA%E0%B8%AD%E0%B8%87-%E0%B8%AA%E0%B8%B8%E0%B8%82%E0%B8%B8%E0%B8%A1%E0%B8%A7%E0%B8%B4%E0%B8%97/" alt="คอนโดมือสอง สุขุมวิท">คอนโดมือสอง สุขุมวิท</a> with questions, don't get worried, just answer the questions and move on. It's typically all a matter of documentation. </p>
