If you're new to buying property, navigating a mortgage can be a bit of a learning curve. Often, potential new homeowners on the market for their first property will wonder about the specifics of a pre-approval. And they may wonder, is it possible for their pre-approval to turn into a rejection at the time of the offer?

The short answer is yes. You can be denied a mortgage even after a pre-approval. But that isn't something to fear if you know how to avoid it from happening to you. While a pre-approval is a preliminary assessment, it is not a final loan guarantee, and the circumstances that contributed to the approval can shift and turn it into a denial if you're not careful. It can easily be revoked if your financial situation changes.

However, there are some things you can do to avoid this, so that the pre-approval remains throughout the buying process. Here are some tips to help ensure your pre-approval endures throughout the length of the sales process.

Maintain the Same Financials and Credit

Any changes like losing a job, becoming self-employed, adding new debt, or having your credit score drop can alter that pre-approval. Even large, undocumented, or unexplained bank account deposits or withdrawals can turn a pre-approval into a rejection.

After you go under contract, it is important to ensure steadiness in your credit. That means don't opt to lease a new vehicle or purchase big-ticket furniture you must pay in installments over time.

The key here is to keep your credit the same as it was at the time of the pre-approval and not add to your debt in any way.

You want your financial situation to match as close as possible in every way to the circumstances that led to the initial positive financial assessment.

Keep Your Financial Records Available

The pre-approval can also turn into a denial if you later have an inability to prove your income or funds due to insufficient documentation later in the process.

Being prepared and thorough about the paperwork can only work in your favor to ensure your pre-approval sticks.

It shouldn't be too hard to keep that pre-approval until the sale if you follow these steps. Try your best to keep the same job, don't open any new businesses or become self-employed, and don't lease or make big-ticket item purchases before the sale.

As well, try your best to avoid missing payments or paying for purchases in installments during the process. Lastly, refrain from making large bank transactions in general until the property sale closes for you and the mortgage kicks in. To learn more, reach out to your banker for more information, as they are a wealth of knowledge and can assist you as well.

Courtney Edgar is a lifestyle journalist and copywriter based in Montreal. Her work has been published in HuffPost, Pop Sugar, Atlas Obscura, Explore Mag, and more.