6 Ways to Avoid Losing Your Mortgage After Pre-Approval » Mortgage Masters Group

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5 Activities To Avoid Between Pre-approval and Closing on Your New Home Do not make any major purchase like furniture, car, boat, jewelry, etc. You have been pre-approved for a mortgage, or you have found the prefect home after weeks, or even months of searching and the dreaming begins.

While it may seem obvious that you need to keep paying your bills during the period between a mortgage pre approval and your settlement date, some would-be borrowers neglect their finances in the excitement of shopping for a home.. Getting preapproved for a mortgage is no easy task, so the last thing you want to do is lose sight of your finances after you have been preapproved.

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With preapproval, you’ve basically arranged for your mortgage financing. While you don’t have to worry as much about the deal falling through at the end because of not qualifying for a home loan, preapproval in no way guarantees that the lender will give you the loan, according to The Mortgage Professor.

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