Underwriting denied my loan

[Humberto Perez]

I was pre-approved for a loan, 2 days before closing underwriting denied me. They requested me to put more down, but down my interest and pay an initiation fee. Is it worth it or should i just take the loss and loose my earnest money?

[Eric X.]

Originally posted by @Humberto Perez:

I was pre-approved for a loan, 2 days before closing underwriting denied me. They requested me to put more down, but down my interest and pay an initiation fee. Is it worth it or should i just take the loss and loose my earnest money?

Why would you lose earnest money unless you specified it was non refundable? Usually there is a financing contingency that would allow you to get earnest money back.