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Purchase Mortgage Loan
Get Pre-Approved

What is a mortgage pre-approval?

Quick answer

A mortgage pre-approval is a lender's written, conditional commitment to lend you up to a specific amount after reviewing your credit report, income, assets and debts. It shows sellers and agents you're a serious, financeable buyer, and it tells you your real price range. Pre-approvals usually last 60–90 days.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated
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How do I get pre-approved?

  • Gather documents: 30 days of pay stubs, 2 years of W-2s or tax returns, 2 months of bank statements, photo ID.
  • Apply with one or more lenders (multiple inquiries within ~45 days count as one for scoring).
  • The lender pulls credit, reviews documents and issues a letter with your maximum amount.
  • Use the letter when making offers; update it if your finances change.

What can hurt a pre-approval?

  • Opening new credit cards or car loans.
  • Changing jobs or becoming self-employed.
  • Large unexplained bank deposits.
  • Missing payments on existing debts.

Frequently asked questions

A hard inquiry may lower your score by a few points temporarily. Rate shopping with multiple lenders within a short window is treated as a single inquiry.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.