How to Get Pre-Approved for a Mortgage

If you're planning to buy a home, getting pre-approved for a mortgage is one of the most important first steps. It not only shows sellers you’re a serious buyer, but it also helps you understand how much home you can afford. Here’s how to get pre-approved, step by step.

1. Check Your Credit

Before applying, review your credit report and score. A higher credit score can help you qualify for better rates. Dispute any errors and pay down debts if needed to strengthen your profile.

2. Gather Financial Documents

Lenders will need documentation to verify your income, assets, and debts. Common items include:

✅Recent pay stubs
✅ W-2s or tax returns
✅ Bank statements
✅ ID and Social Security number
✅ List of monthly debts

3. Choose a Lender

Shop around and compare lenders to find the best fit. Look at interest rates, fees, customer service, and reviews. You can work with a mortgage broker or go directly through a bank or credit union.

4. Submit Your Application

Once you’ve chosen a lender, complete the mortgage pre-approval application. This may include a credit check and a review of your financial documents.

5. Get Your Pre-Approval Letter

If approved, you’ll receive a pre-approval letter stating how much you’re eligible to borrow. This letter can strengthen your offer when you're ready to buy.

Bottom Line:
Getting pre-approved helps you shop with confidence and positions you as a competitive buyer in a fast-paced market. With the right preparation, you’ll be one step closer to homeownership.