Mortgage Pre-Approval: What It Is and What to Have Ready
Getting pre-approved before you shop is one of the best moves a buyer can make. It shows you what you may be able to borrow, and it shows sellers you’re serious.
What to Gather
- Recent pay stubs and your last two years of W-2s (or tax returns if you’re self-employed)
- Recent bank and savings statements
- A photo ID
- Details on any existing debts, such as car loans, student loans, and credit cards
While You’re Waiting
- Avoid opening new credit or making large purchases.
- Don’t change jobs without talking to me first.
- Keep large deposits documented, because lenders will ask where the money came from.
Pre-approval isn’t a final commitment, and your terms can change if your finances change before closing. Still, it takes the guesswork out of house hunting. If you’d like to start, I’d be glad to walk you through it.
Let’s Talk About Your Homebuying Plans
I’m Bob French, an independent mortgage loan officer serving Greater Atlanta. I’ll help you compare financing options and understand the numbers.
Bob French · NMLS #2333469 · David Kilpatrick Financial LLC · NMLS #1574879. This article is general information, not a loan offer or a commitment to lend. Loan programs, limits, and requirements change and are subject to underwriting and lender requirements.