How to Get Pre-Approved for a Mortgage

What Is Mortgage Pre-Approval?

Pre-approval is a lender's conditional commitment to lend you a specific amount based on a preliminary review of your credit, income, and assets. It tells you exactly how much home you can afford and shows sellers you're a serious, qualified buyer.

Pre-approval is different from pre-qualification, which is an informal estimate. Pre-approval involves actual credit verification and documentation review.

What You Need to Get Pre-Approved

• Identification: Government-issued photo ID (driver's license, passport)
• Income Documentation: Last 2 years of W-2s (or tax returns if self-employed), last 30 days of pay stubs
• Asset Documentation: Last 2 months of bank statements, investment account statements
• Employment Verification: Employer name, address, and phone number
• Credit Authorization: Permission to pull your credit report

Step-by-Step Process

1. Choose a Lender or Broker: Working with a mortgage broker gives you access to multiple lenders and programs — not just one bank's products.
2. Submit Your Application: Provide your financial information online, by phone, or in person.
3. Credit Check: The lender pulls your credit report and scores from all three bureaus.
4. Documentation Review: Your income, assets, and employment are verified.
5. Pre-Approval Letter: You receive a letter stating your approved loan amount, rate estimate, and conditions.

How Long Does Pre-Approval Take?

With a mortgage broker like Airus Lending, pre-approval typically takes 1–2 business days. In some cases, same-day pre-approval is possible if all documentation is submitted upfront.

How Long Does Pre-Approval Last?

Most pre-approval letters are valid for 60–90 days. After that, the lender may need to re-verify your credit and financial information. If your situation hasn't changed significantly, renewal is straightforward.

Tips for a Strong Pre-Approval

• Check your credit report for errors before applying
• Avoid opening new credit accounts or making large purchases
• Keep your employment stable — don't change jobs during the process
• Save more than you need — extra reserves strengthen your application
• Be honest and complete — undisclosed debts or income issues create delays