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Jun 5th, 2008, 10:24 AM
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Was approved now not approved for a mortgage, what to do?
My husband and I met with a mortgage broker and she gave us a commitment letter stating we were approved for our mortgage So we signed the documentation with the builders and but out $15, 000 deposit down and thought we were on our way. We found out yesterday that we have been rejected by one loaner and the other will approve us but only if we but another 5% down plus have an appraisal done on the property. We want to get our deposit back and walk away from the deal is this possible?
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