What Happens After You Get Pre-Approved?

Getting pre-approved is a big step in the homebuying process. It gives you a clear idea of your budget, locks in a rate (in many cases), and shows sellers you're serious when it's time to make an offer.

But what happens after that? And can anything affect your pre-approval once it’s in place?

Let’s walk through what to expect—and what to avoid—once you’ve been pre-approved.

If Nothing Changes, Your Budget Likely Won’t Either

Once your income, credit, and down payment have been verified and your application has been reviewed, your pre-approved budget is based on your current financial picture.

Unless something major changes—like your job, debt, or interest rates—your numbers typically won’t move much.

In other words, as long as your situation stays the same, so will your buying power.

That said, if more than a month or so goes by since your broker gave you your pre-approved budget, it’s a good idea to check in for a quick file update. Even if nothing has changed on your end, it helps confirm that everything is still solid and ready to go—especially if you’re about to write an offer.

Changes Can Affect Your Approval

This part is key: once you're pre-approved, it’s best to avoid any major financial changes until after your mortgage is fully approved and funded.

Here are a few things that can create problems:

Changing jobs (especially moving from salaried to hourly, commission, or self-employed income)
Taking out new credit cards, car loans, or financing purchases
Missing payments on existing credit accounts
Depositing large lump sums into your account without a clear paper trail

Even if your application has been approved, lenders can do another review before closing. If something’s changed, they may need to re-verify your approval—or in some cases, pull it altogether.

If you’re thinking about making a change (like switching employers, buying a car, or consolidating debt), talk to your broker first. A quick conversation can save a lot of headaches down the road.

The Bottom Line

Getting pre-approved isn’t just about knowing what you qualify for—it's about making sure you're shopping in the right price range for your budget and comfort level.

It also means someone has looked under the hood, reviewed your documents, and confirmed that everything lines up. That makes the entire process smoother and a lot less stressful when you get to the offer stage.

Staying in touch and keeping things up to date helps make sure there are no surprises when it matters most.

Call or text (902) 402-9779, or visit www.gregmatthews.tmgbroker.com/apply.aspx to fill out a five-minute pre-approval form!