Your Loan Is Approved, No It Isn't, Yes It Is, No It Isn't

Reblogger Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA
Real Estate Agent with Future Home Realty

This is so true. Not out of the woods until someone hands you the keys to your new home. 

Original content by Dave Halpern

Here's another reason buyers need a professional Realtor in Louisville, and frankly anywhere;

Realtors understand the language the mortgage brokers and loan officers use when they give status updates.

It's amazing how many times the buyer can be told they are approved for the loan but then be told there's a problem or the underwriters need one more thing.

Here are signs the buyers are NOT approved yet for their loan:

  • "Congratulations! You're pre-approved!" That means you're not approved yet.
  • "Congratulations! You're approved! Now we're sending it to underwriting." Translation: You're not approved yet.
  • "Congratulations! You're approved with conditions." Translation: You're not approved yet.
  • "Congratulations! You're approved! We just need one more thing." Translation: You're not approved yet.
  • "Congratulations! You're approved! We're just waiting for clear to close." Translation: You're not approved yet.

The word "approved" has very little practical meaning

Your Realtor will work closely with you and your loan officer. Your Realtor will understand what the real status is. Your Realtor will help manage the roller coaster of updates. If needed, your Realtor will put the right pressure on the loan officer to get things done and to reveal what's really going on with your loan.


For relentless real estate representation in Louisville, Kentucky, Call Dave Halpern, Realtor (502) 664-7827


Keller Williams Realty Louisville East




Dave Halpern, Realtor

The Dave Halpern Real Estate Group

Keller Williams Realty Louisville East

(502) 664-7827



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Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Stavrula "Sam" Crafa, RNC,GRI, CDPE, PSA , thanks for the re-blog. Unfortunately, we've all been on the receiving end of faux approvals.

Nov 30, 2017 01:05 PM
Mike McGlynn
The Gallery of Homes - Omaha, NE
The Luxxe Group by Gallery of Homes

Isn't that the truth!  I only wish that the general public knew.

Dec 02, 2017 04:50 PM
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

Sam, great reblog! It is so true! It's almost like holding your breath until closing.

Feb 14, 2018 07:36 PM