How to Get Pre-Approved for a Home Loan: Steps and Document Checklist
Pre-approval is the first real step in buying a home. It tells you what you can spend and shows sellers you are serious. Gather your documents once and the process goes fast.
- Pre-approval is stronger than pre-qualification
- Most delays come from missing documents
- Do not change jobs or open new credit while you are in process
Pre-qualification vs pre-approval
Pre-qualification is a quick estimate based on what you tell a lender. Pre-approval means the lender has looked at your documents and credit. Sellers take it much more seriously.
The steps
- Check your credit and fix errors early.
- Pick two or three lenders and compare rates and fees.
- Gather your documents using the checklist below.
- Apply and allow a credit check.
- Review your letter and ask what it covers and how long it lasts.
- Keep things steady. No new debt, big purchases, or job changes without talking to your lender.
Use the checklist
Check each item you have ready. Self-employed buyers usually need extra documents, so ask your lender early.
After you are approved
Choose a price range that feels comfortable, not just the maximum. Then start touring. See the affordability guide, learn about low down loans, and the 30 days to closing checklist.
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Common questions
How long does pre-approval last?
Often 60 to 90 days, though it varies by lender. You may need to update it if you shop longer.
Does pre-approval hurt my credit?
A lender will check your credit, which can cause a small, temporary dip. Multiple mortgage checks in a short window are usually treated as one.
What if I am self-employed?
Lenders usually want two years of tax returns and profit and loss records. Start gathering them early.