What happens during pre-approval?
A lender will review your income, employment, savings, debts, and credit. You may also be asked for documents such as pay statements, bank statements, or tax information.
That review should help you understand:
Which loan options may fit
What the payment and upfront costs could look like
What your next step should be
A pre-approval is based on the information available at that time. It is not final loan approval, and it does not commit you to buying a home—or spending the full amount discussed.
If you are not ready yet, that is still useful information. A thoughtful review can help you understand what may need attention and how to move forward.
Before you begin:
Ask what documents you should have ready
Decide what monthly payment feels comfortable to you
Ask how your credit will be reviewed and whether the inquiry may affect your score
Ready to take the next step?
Still have a question we haven’t answered? Send it our way.