Originally Published at The Motley Fool

The answer is no, yes, and maybe…

The pre-approval itself is dependent on a snapshot in time of a list of variables. If none of the variables change over time, then the pre-approval remains in good standing. If (as) variables change, the pre-approval may no longer apply.

Some of the variables in play;
Your credit profile & scores,
Your income & employment history & status,
Your asset positions,
The terms currently offered on the financing applied for,
The program offered,
The firm ofering the program,
The market interest rates (and their effect on your debt-ratios,)
The regulatory situation of the moment.

ALL the “non-you” variables above have become huge rapidly shifting question marks over the last 18 months or so. No small number of assumed-approvable loans have fallen out of qualifiability (at zero fault of the borrower) due to the shifting grounds.

If you take the time to shop a quality professional (as you already figured you’ll need,) they’ll navigate these uncertainties and build “plan-B’s” to make sure you’re not shooting blanks when its most important to have real firepower.

David Donhoff
Senior Leverage Planner

Phone 425-223-4520
Email David@NoBullFinancial.com
Web www.NoBullFinancial.com
WA MB# 510-MB-26336

Our sole focus is on YOUR best results, for LIFE!