The Power of Pre-Approval

If you’re thinking about buying a home, one of the smartest first steps you can take is getting pre-approved for a mortgage. It’s a sign to sellers and real estate agents that you’re ready to make a move with confidence.

So, What Is a Pre-Approval?

A mortgage pre-approval is a written letter from a lender stating how much they’re willing to lend you for a home purchase based on your finances. To get pre-approved, you’ll share personal information like your income, assets, debts, and credit score. The lender then does a full review and gives you a number to work with. Think of it as your homebuying budget with a little more weight behind it.

Why Get Pre-Approved Early?

Here’s why so many buyers start with pre-approval:

  • It helps you set a realistic price range. No guessing games, just a clear understanding of what you can afford.
  • It shows sellers you’re serious. In competitive markets, sellers often expect buyers to be pre-approved. 
  • It can speed up the process. When you’re ready to make an offer, much of the financial groundwork is already done.

What You’ll Need

To get started, you’ll typically need:

  • Recent pay stubs and W-2s
  • Tax returns, if you’re self employed
  • Information about your assets (like checking, savings, or retirement accounts)
  • If you already own a property, we’ll need your current housing expense documents
  • Permission to pull your credit score

Don’t worry. It’s not as overwhelming as it sounds. Our lenders are happy to walk you through it step-by-step.

How Long is a Pre-Approval Good For?

We will keep your pre-approval on file for 12 months. If your credit report is older than 4 months, we’ll need to pull a new report. 

One More Thing…

It’s important to remember that a pre-approval is not a final loan commitment. Once you find a home and go under contract, your lender will still need to review the property and do a few final checks before issuing full approval.

Ready to Take the First Step?

If you’re thinking about buying a home, we’re here to help make the process smooth and stress-free. Unlike many banks, we offer pre-approvals with clear, straightforward terms and personalized support from the very beginning. Reach out to our mortgage team today and start your homebuying journey with confidence.