What Is Mortgage Pre-Approval?
Mortgage pre-approval is a lender’s confirmation that you qualify for a specific loan amount, based on your credit, income, and debts.
Steps to Get Pre-Approved
- 📋 Check Your Credit Score – A score of 620+ is ideal for conventional loans.
- 📄 Gather Financial Documents – Pay stubs, tax returns, and debt details.
- 🏦 Shop for Lenders – Compare interest rates and loan options.
- 📝 Submit a Pre-Approval Application – Includes a credit check.
- ✔ Receive a Pre-Approval Letter – Shows how much home you can afford.
Using a Mortgage Affordability Calculator
Before applying, determine your budget with our Home Affordability Calculator.
Why Mortgage Pre-Approval Matters
- 💰 Gives you a clear home-buying budget
- 🏡 Shows sellers you’re a serious buyer
- ⚡ Speeds up the mortgage approval process
- 📉 Helps you lock in better interest rates
“A mortgage pre-approval helps buyers move faster and negotiate with confidence.”
— Sarah Thompson, Mortgage Expert