Let’s be honest: trying to buy a home without pre-approval is like bringing Monopoly money to an auction. Sellers won’t take you seriously—and neither will your real estate agent. Luckily, getting pre-approved is easier than assembling Ikea furniture, and we’ve teamed up with mortgage pros to give you a smart, simple checklist that will have you ready to go.
Whether you’re a first-time homebuyer or just haven’t done this since “Tiger King” was trending, this guide is for you. And yes, your loan officer will thank you.
Why Pre-Approval Matters
Pre-approval isn’t just a formality—it’s your VIP badge in the world of real estate.
- It tells sellers you’re serious. In a tight market, that little letter can make the difference.
- You know your budget. No more falling in love with homes that your wallet can’t date.
- You’ll move faster. In a bidding war, speed and certainty win.
Loan Officer Insight: “We can’t tell you how many buyers lose deals because they didn’t take this first step. It’s not optional—it’s essential.”
✅ Your Pre-Approval Checklist
Here’s everything you’ll typically need to gather (yes, adulting ahead):
1. Proof of Income
- Recent W-2s (2 years)
- Pay stubs (last 30 days)
- If self-employed: last 2 years of tax returns + year-to-date profit/loss
2. Proof of Assets
- Bank statements (checking and savings)
- Retirement and investment accounts
- Gift letters if someone’s helping with your down payment (yes, Mom needs to put it in writing)
3. Credit Information
- Lenders will pull your credit score, so know where you stand
- Dispute errors early, not after you fall in love with a house
4. Employment Verification
- Your lender will contact your employer to confirm your job status and income
- Recently switched jobs? Be prepared to explain
5. Identification
- Government-issued ID (like your driver’s license)
- Social Security Number for the credit pull
6. Other Obligations
- Details on student loans, car payments, alimony/child support (if applicable)
Pro Tip: Having all of this ready ahead of time = less stress, faster approvals, and fewer awkward calls with your lender at 4 PM on a Friday.
What Happens Next?
Once you submit all your docs:
- A lender reviews your financial profile.
- You receive a pre-approval letter stating your max loan amount.
- That letter typically lasts 60–90 days (so don’t sit on it).
Real Estate Agent Advice: “A strong pre-approval gives us the leverage we need to negotiate better terms—or beat out other buyers.”
FAQs
Does pre-approval guarantee a loan?
No—but it’s the strongest signal you’re loan-worthy. Final approval happens after you’re under contract.
Will this hurt my credit?
A pre-approval involves a credit pull, but one inquiry won’t tank your score. Multiple mortgage pulls within a 45-day window typically count as one.
How long does pre-approval take?
If you have your docs ready? Sometimes within 24 hours.
Final Thoughts
You wouldn’t go on a road trip without gas. Don’t go house shopping without a pre-approval.
With this checklist, you’re not just prepared—you’re a buyer sellers will actually root for.
Want help connecting with a local loan officer? Reach out—we’ll set you up.
