5 Things That Can Derail Your Mortgage Approval

Getting approved for a mortgage is not the same as getting a mortgage. Until your lender has transferred the money to your buyer's bank, it's still possible for the process to be derailed.

That means that once you have received a "yes," you still have to be careful. Your lender will be watching you and will continue to monitor your credit and your general financial well-being.

Sometimes issues like inspections or caveats about the seller finding a new home can delay your closing. Be diligent about your finances until you actually own the home and avoid doing these things that can derail your approval.

Source: Fool.com