What Happens After You’re Pre-Approved for a Mortgage

Pre-Approval Is a Big Milestone

Getting pre-approved for a mortgage is an exciting step—it means a lender has reviewed your financial information and given you a clear picture of what you may be able to afford. But many buyers aren’t quite sure what happens next.

Pre-approval isn’t the finish line; it’s the starting point for the homebuying process. Understanding the steps that follow can help you move forward with confidence and avoid unnecessary surprises.

Start Your Home Search with Confidence

Once you’re pre-approved, you can begin shopping for homes within your approved price range. This is where working with a knowledgeable real estate agent becomes especially valuable. They can help you identify homes that fit your goals, schedule showings, and guide you through local market dynamics.

Your pre-approval also signals to sellers that you’re a serious buyer. In competitive markets, this can make a meaningful difference when submitting an offer.

Make an Offer and Negotiate

When you find the right home, your agent will help you submit an offer. This may include negotiations around price, closing timelines, inspections, or seller credits.

Once the offer is accepted, the home officially goes under contract. At this point, it’s important to stay in close communication with your mortgage professional—they’ll help move your loan from pre-approval into the formal application and underwriting phase.

Complete the Loan Application

After your offer is accepted, you’ll complete a full mortgage application. Your lender will request updated documentation to verify income, assets, and employment.

During this time, it’s important to avoid major financial changes. Try not to open new credit accounts, make large purchases, or change jobs without discussing it with your mortgage advisor first.

Home Inspection and Appraisal

Most purchase contracts include a home inspection period. This allows you to identify any issues with the property and negotiate repairs if needed.

Your lender will also order an appraisal to confirm the home’s value supports the purchase price. This step protects both you and the lender by ensuring the property is valued appropriately.

Underwriting and Final Approval

Once all documentation is submitted, your loan goes through underwriting. This is where the lender reviews everything in detail to ensure it meets loan guidelines.

You may be asked for additional information—this is normal. Responding promptly helps keep things moving toward closing.

Clear to Close and Closing Day

After underwriting is complete, you’ll receive a “clear to close,” meaning your loan is approved and ready for final signing.

On closing day, you’ll review and sign your loan documents, pay any remaining closing costs, and receive the keys to your new home. Congratulations—you’re officially a homeowner!

Final Thoughts

Pre-approval gives you a strong foundation, but the journey doesn’t stop there. Staying organized, communicating with your mortgage professional, and following guidance along the way can help ensure a smooth and successful purchase.

If you’re newly pre-approved or planning to start soon, having the right team in place makes all the difference from that first step to closing day.