How to Get Pre-Approved for a Mortgage

If you’re thinking about buying a home, getting pre-approved for a mortgage is one of the smartest first steps you can take. It not only helps you understand how much you can afford but also shows sellers that you’re serious and financially ready to make an offer.

Here’s a simple breakdown of how the pre-approval process works — and why it’s so important.

What Is Mortgage Pre-Approval?

Pre-approval is a lender’s written estimate of how much they’re willing to loan you based on your financial information. It gives you a budget range for your home search and often includes the loan type and interest rate you qualify for.

Steps to Get Pre-Approved

1. Check Your Credit ScoreBefore applying, check your credit score (you can do this for free using tools like Credit Karma or through your bank). A higher score typically means better loan terms and lower interest rates.

2. Gather Your DocumentsMost lenders will ask for the following:

• Proof of income (pay stubs, W-2s, tax returns)

• Employment verification

• Bank statements

• List of debts and monthly obligations

• Identification (driver’s license, Social Security number)

3. Choose a LenderShop around — don’t settle for the first lender you talk to. Compare interest rates, loan options, and customer reviews. You can go with a bank, credit union, or mortgage broker.

4. Submit a Pre-Approval ApplicationYou’ll fill out an application (often online) and submit the documents you gathered. The lender will do a hard credit check, so your score may dip slightly — but this is normal.

5. Receive Your Pre-Approval LetterIf you're approved, you’ll receive a letter stating how much you can borrow. This is typically valid for 60–90 days and can be renewed if needed.

Why Pre-Approval Is Important

• You’ll know your budget – Avoid falling in love with homes outside your price range.

• You’ll be more competitive – Sellers prefer offers from pre-approved buyers.

• You’ll move faster – Being pre-approved speeds up the closing process once your offer is accepted.

Pre-Approval vs. Pre-Qualification

These terms are often confused. Pre-qualification is a quick estimate with no credit check — it's a starting point. Pre-approval is a more serious financial review that carries more weight with sellers.

Final Thoughts

Getting pre-approved is a smart, empowering first step in the homebuying journey. It gives you clarity, confidence, and a competitive edge. If you're ready to start the process, I can connect you with trusted local lenders and walk you through each step.

Have questions about pre-approval or starting your home search? Let’s talk.