Why Canadian pre-approvals fail.

Walk through these before any offer goes in. If two or more apply, treat the file as fragile.

1. 01
   It was never a real pre-approval

   A 'system-generated' pre-approval without a human underwriter is a rate hold, not a commitment. When the lender finally looks at the file, the answer changes.
2. 02
   Document drift

   Pay stubs go stale (>30 days), bank statements lose pages, gift letters arrive after closing instructions. The single largest reason files stall.
3. 03
   New credit after approval

   Opening a car loan, line of credit, or even a store card between approval and closing can re-trigger underwriting and break GDS/TDS.
4. 04
   Job change

   Switching employers, going from salary to contract, or starting a probationary role during the conditional window often invalidates the income story.
5. 05
   Property issue

   Appraisal below purchase price, environmental flag, or condo with special-assessment risk.
6. 06
   Gifted funds without paper trail

   Gift letter missing, funds not landed 15 days before closing, or donor outside immediate family per lender policy.
7. 07
   Rate-hold expiry

   Rate hold expires before commitment. The new rate environment changes the qualified amount.

The order matters. Fix documentation first, then debt, then property issues. Don't pull new credit or change anything material during a rescue window.