How-to guide
How to Get Preapproved for a Mortgage
What lenders check, what documents to gather, and how a strong preapproval helps your offer.
Mortgage preapproval is usually the first serious step in buying a home. This guide covers documents, credit, debt-to-income, and how to use a preapproval letter without oversharing.
Preapproval is a lender’s early look at your finances. It is not a final loan commitment, but it tells sellers you can likely borrow what you need.
Most first-time buyers should get preapproved before touring seriously. It clarifies your budget and makes offers more credible.
What you will need
- Government-issued ID
- Recent pay stubs and W-2s (or tax returns if self-employed)
- Bank and investment statements
- List of debts, alimony, or child support
- Gift letter if someone is helping with the down payment
What lenders evaluate
Lenders typically review credit history, income stability, debt-to-income ratio, assets for down payment and reserves, and employment history. Small credit inquiries from rate shopping in a short window are often treated differently than random new debt.
About the author
Taylor covers first-time homebuying, maintenance checklists, and practical tool recommendations.
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