Pre-approval is the verified green light that turns a browser into a buyer. This guide walks through everything the lender checks, what you need to bring, and the moves that protect your approval all the way to closing.
Wiz's tip
Pre-approval is not a promise to buy at your absolute max. Your real budget includes taxes, insurance, HOA, and maintenance, and the mortgage calculator shows that honest number.
The steps, in order
01
Know your credit picture
Check your three credit reports before the lender does. Dispute errors, pay down balances, and avoid new credit applications in the months before you apply.
02
Choose a lender who communicates
Response time, clarity, and patience vary widely between lenders. Michael can refer you to lenders he has worked with across the region.
03
Submit the verification package
Tax returns, W-2s, pay stubs, bank statements, and identification. Self-employed buyers add profit and loss statements and sometimes a CPA letter.
04
Review your Loan Estimate
The lender must issue a clear Loan Estimate within three business days. Read it closely: fees, rate, closing costs, and cash to close.
05
Protect the approval
No new credit, no large deposits, no job changes, no co-signing, and no cash gifts without lender documentation until the day you close.
How long does pre-approval take?
A straightforward pre-approval can be issued in a few days when documents are ready. Get it before you tour, so every offer you write has the letter behind it, which is what makes sellers take you seriously.