Honestly, I still have nightmares about the mountain of paperwork they wanted for my pre-approval. At one point, I was digging through old tax returns and wondering if they’d want a DNA sample next. I get why it’s important, but it does feel like you’re jumping through hoops just to maybe get a shot at a house. Has anyone actually had a deal fall apart after getting pre-approved? Or is that just one of those horror stories people tell to scare first-timers?
Pre-approval isn’t a golden ticket, that’s for sure. I’ve seen deals fall apart even after buyers had that “you’re good to go” letter in hand. Here’s what I’ve noticed:
- Lenders can still pull out if something changes—like a sudden job switch, new debt, or even a weird blip on your credit report right before closing.
- Sometimes the property itself throws a wrench in things. If it doesn’t appraise high enough or there’s a title issue, the lender might back off.
- I’ve had one deal where the buyer’s pre-approval was solid, but an underwriter flagged an old student loan that hadn’t shown up before. Whole thing unraveled.
I get why people say pre-approval is more reliable than pre-qualification, but it’s not bulletproof. Curious—has anyone here actually had a lender ask for something totally unexpected at the last minute? Like, beyond the usual pay stubs and tax returns?
Had a lender once ask for a letter explaining a $200 Venmo transfer from my account, right before closing. Totally threw me off. I get what you mean—pre-approval feels solid, but it’s not a guarantee.
Even little things can trigger extra scrutiny. Keeping your finances super steady until the keys are in your hand is key.Lenders can still pull out if something changes—like a sudden job switch, new debt, or even a weird blip on your credit report right before closing.
Pre-approval does make things smoother, but honestly, I feel like lenders are just looking for reasons to stress us out. I had a guy once who had to explain a $50 PayPal refund for a concert ticket—talk about overkill. That said, I’ve seen buyers get the keys even after switching jobs (as long as it’s in the same field). Sometimes lenders act like every coffee purchase is a red flag, but sometimes they’re surprisingly chill... It’s a weird dance.
Pre-approval saved my bacon during our last house hunt. I thought pre-qualification was enough—turns out, sellers barely glance at those. The lender did ask about a $12 Venmo from my sister (apparently “pizza night” is suspicious?), but at least with pre-approval, we had real numbers and didn’t get blindsided mid-offer. It’s a hassle, yeah, but I’d rather jump through hoops early than lose a house over paperwork later.
