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Finance
A mortgage pre-approval is your first step toward confident, competitive home buying.
Pre-approval gives you a serious edge in the home buying process
Sellers take pre-approved buyers more seriously. Your offer stands out in competitive markets with multiple bids.
A pre-approval defines your exact price range so you can focus on homes you can truly afford — no surprises later.
Much of the paperwork is done upfront. Pre-approved buyers often close 1-2 weeks faster than those starting from scratch.
Many lenders offer rate locks during the pre-approval period, protecting you from rate fluctuations while you shop.
In hot markets, listing agents favor pre-approved buyers. It signals financial readiness and reduces the risk of deals falling through.
Pre-approval gives you leverage to negotiate better terms, request repairs, or ask for seller concessions.
Pre-qualification is an informal estimate of what you might be able to borrow based on self-reported information. Pre-Verification involves a full financial review by a lender — including credit check, income verification, and asset review — resulting in a conditional commitment to lend.
Typically you will need: last 2 years of tax returns, recent pay stubs (30 days), W-2s, bank statements (2-3 months), photo ID, and employment verification. Self-employed borrowers may also need profit/loss statements.
Most pre-approval letters are valid for 60 to 90 days. If you need more time, your lender can update your application with a quick re-verification.
A pre-approval requires a hard credit inquiry, which may temporarily lower your score by a few points. However, multiple mortgage inquiries within a 14-45 day window are typically counted as a single inquiry.
While uncommon, denial is possible if your financial situation changes — such as a new large debt, job change, or significant drop in credit score. Avoid major financial changes between pre-approval and closing.
Our lending partners will walk you through the process and help you find the best mortgage product.