I learned the hard way that pre approval does not mean guaranteed approval
I thought I had everything figured out. I went to a lender, got pre approved, and started shopping with confidence. I found a place I loved, had my offer accepted, and started packing boxes. I was already imagining where I was going to put my furniture.
Then I got the call. The underwriter was asking for more documents. Then more. Then I found out that something on my credit report I thought was resolved was still showing up. The whole thing dragged on for weeks and I was terrified I was going to lose the house and my earnest money.
I did end up closing, but it was a nightmare. I learned that pre approval is really just the first step and things can get complicated once you go into underwriting. I had no idea how deep they dig into your finances or how stressful that period could be.
I came across an article after the fact that explained the full process from pre approval to closing and it made me wish I had done more preparation upfront. I could have avoided a lot of late nights stressing over documents if I had known what was coming.
If you are starting the home buying process, do not make my mistake. Ask your lender exactly what you need to prepare for underwriting so there are no surprises.