How to Get Pre-Approved for a Mortgage (First-Time Buyer Guide)
🏡 Thinking about buying your first home? Before you start touring properties or scrolling Zillow for hours, there’s one smart step you don’t want to skip: getting pre-approved for a mortgage.
Mortgage pre-approval gives you a clear idea of how much home you can afford—and shows sellers you're serious. In a competitive market, it’s your ticket to standing out.
💡 What Does Pre-Approval Even Mean?
Pre-approval is when a lender reviews your financial information and conditionally agrees to lend you a specific amount. It’s not a guarantee, but it’s a major step toward getting a mortgage.
✅ You’ll receive a pre-approval letter, which you can include with offers to show sellers you’re ready to buy.
✅ Why Getting Pre-Approved Matters
Know your budget before you fall in love with a home
Speed up the buying process when you're ready to make an offer
Strengthen your offers in competitive markets
Spot potential credit or income issues early
🔑 Step-by-Step: How to Get Pre-Approved for a Mortgage
1. Check Your Credit Score
Your credit score impacts what type of loan you qualify for and your interest rate.
📊 Aim for 620+ (minimum for most loans), but 740+ gets you the best rates.
👉 Tip: Check your credit report for errors before applying.
2. Gather Financial Documents
Lenders will ask for:
Pay stubs (last 30 days)
W-2s or 1099s (last 2 years)
Bank statements (last 2–3 months)
Tax returns (last 2 years)
ID (like a driver’s license)
🗂 Being organized = a faster process.
3. Choose a Mortgage Lender
You can apply through:
A bank or credit union
A mortgage broker
Online lenders (Rocket Mortgage, Better.com, etc.)
📞 Tip: Compare interest rates, fees, and reviews before deciding.
4. Complete a Mortgage Application
You’ll fill out a form called a Uniform Residential Loan Application. It includes personal, employment, and financial info.
💬 Be honest! Inaccurate info can delay or deny your loan.
5. Get Your Pre-Approval Letter
If you qualify, your lender will issue a pre-approval letter—usually valid for 60–90 days.
🏡 Now you can house hunt with confidence!
🧠 Extra Tips for First-Time Buyers
Don’t open new credit cards or make large purchases during the process
Avoid switching jobs before closing
Keep your debt-to-income ratio low
📝 FAQ: What’s the Difference Between Pre-Approval and Pre-Qualification?
Pre-qualification is a quick estimate based on self-reported info
Pre-approval is more in-depth and verified by a lender
💡 Sellers usually want to see pre-approval over pre-qualification.
🎯 Final Thoughts: Be Ready Before You Shop
Getting pre-approved is one of the smartest first steps in your home buying journey. It gives you a budget, builds confidence, and sets you up for success.
👉 Ready to get started?
If you're thinking about buying your first home and want help connecting with a trusted lender—or just have questions—I'm here to help!
📲 Contact me today for first-time buyer support, trusted resources, and next steps.
