What you think you’re approved for… and what you actually get can be two very different things.
If you’ve received a mortgage pre-approval and assumed you’re locked and loaded to shop—hold up. At ARIVL, we’ve seen too many buyers learn the hard way that a pre-approval isn’t a promise—it’s a starting point.
In this post, mortgage broker Christopher Long explains what can go sideways between a pre-approval and the actual lender approval, and what you can do to avoid last-minute surprises.
💡 Why This Matters for ARIVL Clients
In today’s competitive Edmonton market, buyers need to move fast—and sellers want to work with serious offers. If your financing falls apart after your offer is accepted, it can cost you the home, your deposit, and your reputation.
At ARIVL, we care deeply about our clients being empowered, prepared, and protected. That means understanding not just how much you’re approved for, but how solid that number really is.
❗ The Truth About Pre-Approvals
1. Not All Pre-Approvals Are Created Equal
Some lenders or banks do “soft pre-approvals,” meaning they haven’t actually reviewed your full documentation.
If you haven’t submitted proof of income, down payment history, and had your credit fully reviewed, your approval amount could drop significantly later on.
“The most important thing to do when looking at pre-approval is to ensure your mortgage broker actually underwrites all your documentation upfront.” – Chris Long
2. Your Income Might Be Counted Differently Than You Think
That $80,000 salary? Lenders may not count all of it.
If you rely on overtime, bonuses, contract work, or commissions, lenders may discount or ignore those portions unless you’ve shown a consistent track record over 2+ years.
Chris shared an example:
“If $20K of your $80K income comes from overtime and there’s not enough history to verify it, a lender might only qualify you based on $60K.”
3. You Can Hurt Your Approval Without Realizing It
If you get pre-approved and then go finance a car, open a new credit card, or take on other debt, your mortgage amount could drop. Even changes in employment—like going from full-time to contract—can derail a previous approval.
“I don’t know how many times people’s hopes and dreams have been dashed by a truck.” – Chris Long
🧠 The ARIVL Advantage
We partner with trusted professionals like Chris to ensure your pre-approval is not just a number on paper—it’s a fully assessed, documentation-supported, lender-vetted pre-approval you can count on when it matters most.
Before we write an offer, we want you to feel confident that:
- Your documents have been reviewed
- You understand your true affordability
- You’re not blindsided by last-minute changes
This matters not just for buyers—but for sellers too.
If you’re selling your home, you want to accept offers that will actually close. Working with buyers who are pre-approved by brokers like Chris helps protect your transaction and your timeline.
✅ What You Can Do Right Now
- Gather your documents early—income verification, tax returns, and down payment history.
- Talk to a mortgage broker (not just your bank!) who can shop across multiple lenders.
- Avoid big financial changes between pre-approval and purchase—don’t buy the truck yet.
- Ask questions. The right broker will walk you through the “why,” not just give you a number.
🧭 Ready to Get Pre-Approved the Right Way?
We’re here to help you build a strategy that’s solid—not shaky. Let’s make your next move with confidence.
🔗 Connect with ARIVL
📩 Email: hq@arivl.ca
📞 Call Jakie: 780-224-5566
🔗 Connect with Christopher Long
Christopher Long
Mortgage Broker – Mortgage Connection
📱 Cell: 780-292-4316
📧 Email: clong@mortgageconnection.ca
🌐 mortgageconnection.ca/staff/christopher-long
🔑 ARIVL: Your Real Estate Adventure Awaits.
We don’t just help you shop—we help you win.