Can you be denied a mortgage after preapproval?

If you’re new to buying property, navigating a mortgage can be a bit of a learning curve. Often, potential new homeowners in the market for their first property will wonder about the specifics of a pre-approval. And they may wonder: Is it possible for their pre-approval to turn into a rejection at the time of the offer? 

The short answer is yes. You can be denied a mortgage even after a pre-approval. But that isn’t something to fear if you know how to avoid it happening to you. While a pre-approval is a preliminary assessment, it is not a final loan guarantee, and the circumstances that contributed to the approval can shift and turn it into a denial if you’re not careful. It can easily be revoked if your financial situation changes.