Step 2: Get Pre-Approved
Pre-approval is a more rigorous process than pre-qualification. You will complete a full loan application, authorize a hard credit inquiry, and submit supporting documents. The lender reviews everything and, if you qualify, issues a pre-approval letter stating the maximum loan amount, loan type, and interest rate. Sellers and agents treat pre-approval as a serious signal of buying intent, making it essential in competitive markets.
Key Takeaways
- ✓ A hard credit pull is required and will temporarily lower your score by a few points.
- ✓ Pre-approval letters are typically valid for 60–90 days.
- ✓ Multiple mortgage credit inquiries within a 14–45 day window count as one inquiry.
- ✓ Your pre-approval amount is not your budget—factor in taxes, insurance, and maintenance.
What Happens During Get Pre-Approved
Detailed content for this step is coming soon. Check back for in-depth guidance on get pre-approved, including common questions, timelines, and tips from our licensed mortgage advisors.
What You'll Need
- ■ W-2s or 1099s for the past 2 years
- ■ Federal tax returns for the past 2 years
- ■ Recent pay stubs (last 30 days)
- ■ Bank and investment account statements (last 2–3 months)
- ■ Government-issued photo ID
- ■ Social Security number for credit authorization