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aready approved for a FHA home loan

i was approved for fha home loan. found a home & had the home inspected & appraised then the loan officer needed tax forms from 4 yrs ago to send to the underwriter, what does this mean? & can i still be denied for my loan….THX
the loan officer got the approval from the U.W a month ago

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This entry was posted on Friday, January 8th, 2010 at 10:07 am and is filed under fha home loan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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4 Responses to “aready approved for a FHA home loan”

  1. Paul in San Diego says:
    January 8, 2010 at 10:34 am

    Were you approved or pre-approved? Preapproval just means that you have met all the criteria for getting that loan. Now, you have to provide the documentation to an underwriter (the entity that’s really coming up with the cash) to prove that what you said about your financial status is right.

    Once you get underwriter approval, you then sign a mountain of loan docs. After those are submitted and reviewed, the lender approves funding. Only at that time are you sure you got the loan.

  2. src50 says:
    January 8, 2010 at 10:42 am

    Your loan can always be denied – it is not guaranteed. But the request for tax returns is to verify income history.

  3. A W says:
    January 8, 2010 at 11:30 am

    Sounds to me like you were only pre qualified. If you had been preapproved, you would have provided those tax returns at the beginning, not when you found a home.

    Yes, the loan can still be denied. If it doesn’t meet the underwriting guidelines, the loan will not close.

  4. FHA LOAN RATES | FHA home loans for Buying a Florida home, ((97%w 540 FICO)) | Buy … says:
    January 9, 2010 at 1:49 am

    [...] aready approved for a FHA home loan | FHA Home Mortgage Loan … [...]

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