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How to Get Pre-Approved for a Mortgage in 7 Easy Steps

Buying a home is exciting — but before you start touring houses, you’ll want to know exactly how much you can afford. That’s where a mortgage pre-approval comes in.

A pre-approval is a lender’s written commitment that, based on your financial information, you’re qualified for a certain loan amount. It shows sellers you’re serious and ready to buy.

Here’s a simple, step-by-step guide to getting pre-approved for a mortgage.

Step 1: Check Your Credit Score

Your credit score is one of the biggest factors in qualifying for a mortgage and determining your interest rate. Most lenders require:

  • 580+ for FHA loans

  • 620+ for conventional loans

  • 740+ for the best rates

Tip: Check your credit report for errors and pay down credit card balances before applying.

Step 2: Determine Your Budget

Know how much you can comfortably spend each month on a mortgage payment, including property taxes, insurance, and HOA fees if applicable. Online mortgage calculators can help you get an estimate.

Step 3: Gather Your Financial Documents

Lenders will want proof of income, assets, and debts. Have these ready:

  • Recent pay stubs (last 30 days)

  • W-2s or tax returns (last 2 years)

  • Bank statements (last 2 months)

  • Proof of down payment funds

  • Photo ID

Step 4: Choose the Right Lender

Shop around for rates and loan programs. Compare:

  • Interest rates

  • Loan terms

  • Closing costs

  • Customer service reputation

You can work directly with a bank, credit union, or mortgage broker.

Step 5: Complete the Loan Application

Once you choose a lender, you’ll fill out a mortgage application (also called a 1003 form) with your income, debts, and personal details. This authorizes the lender to pull your credit and review your finances.

Step 6: Await Lender Review

The lender will review your application, credit report, and financial documents. This process can take anywhere from a few hours to a few days.

If approved, you’ll get a pre-approval letter stating the loan amount you qualify for and the terms.

Step 7: Use Your Pre-Approval Letter to Shop with Confidence

With pre-approval in hand, you can:

  • Make stronger offers on homes

  • Negotiate confidently with sellers

  • Avoid wasting time on houses outside your price range

✔ Final Thoughts: Pre-Approval Puts You Ahead

Getting pre-approved is one of the smartest moves you can make before house hunting. It shows sellers you’re serious and helps you focus on homes you can afford.

Ready to get pre-approved?
📞 Contact us today, and we’ll guide you through the process step-by-step so you can shop with confidence.

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