Hi all. Is it possible to back out from an approved home loan(investment)? we havn't signed anything as yet , just paid upfront fees( valuation only). we also haven't signed contract for the property we got financed for as yet but just got B&I done. Now we have changed our mind and do not wish to purchase right now. we know we will loose those fees already paid but we can live with it. so my question is 1. Is this possible to reject approved loan offer? 2. Will it affect future loan application with same lender or different? 3. Am I asking stupid question!!? Thanks all in advance for inputs.