Can you get denied after pre-approval?
A home loan can be declined even if you have been pre-approved. For example, if the applicant’s financial situation has changed since they obtained pre-approval or the lender does not find the property to be suitable security for the loan amount applied for.
That said, pre-approval still significantly increases your chances of success in your home loan application. In fact, just over 90% of home loan applicants who have obtained a pre-approval through ooba Home Loans have their home loan applications granted.
Related questions
- How to become a bond originator in South Africa
- Does pre-approved mean approved?
- How do I clear my name from the credit bureau in South Africa?
- Can I submit multiple home loan applications to different banks?
- What is a bond repayment on R500 000?
- Can I, as a South African citizen, buy a property in SA from overseas?