Does fannie mae pre-approval gaurantee you will get the loan?
The fact that you mention Fannie Mae pre-approval leads me to believe your lender has run your information through “desktop underwriter” which is Fannie Mae’s computerized approval software. This program is highly subjective to the information entered by the loan officer. Have you ever heard the term “garbage in garbage out”? What I mean by this is that if your lender entered in any incorrect information it could result in a false approval or your loan later being denied. If, however, all the information your provided was honest and accurate and is came back approved then you should be in good shape barring any recent changes to guideline,material changes to your qualifications,or problems with the home itself. I would address this question with your lender if you have concerns. I wouldn’t worry if it’s been in review for 48 hrs.
