Well . . . no.
You don’t get the loan until:
(1) The seller accepts your offer- You are technically still pending until you get the okay.
(2) Your lender approves the loan-They have to weigh their liability and then give you the… YES!
(3) You sign the loan papers- That’s right. They need your signature. Nothing is for sure until everyone has signed those documents.
Between these steps the lender will have the home appraised to ensure its value is in line with the purchase price, check your credit again, and ask you for more documents than you have and you will panic and call your parents and ask if you ever had such a document.
So what does “pre-approved” actually mean? It tells sellers you’re eligible for a loan and shows them you’re a serious and qualified buyer. Because remember, they also have to say Yes to you!