Get Pre-Approved

Work with a lender to understand exactly how much house you can afford.

A mortgage pre-approval is a formal commitment from a lender stating how much money they are willing to lend you. Unlike a pre-qualification (which is just a rough estimate), a pre-approval requires the lender to pull your credit and verify your financial documents, including W-2s, tax returns, and bank statements.

Getting pre-approved is essential for two reasons. First, it tells you exactly what price range you should be looking in, preventing you from falling in love with a home you can't afford. Second, it shows sellers that you are a serious, qualified buyer. In competitive markets, sellers won't even consider an offer from a buyer without a pre-approval letter in hand.

It's highly recommended to shop around and speak with multiple lenders, including local banks, credit unions, and mortgage brokers. Comparing Loan Estimates from different lenders can save you thousands of dollars in closing costs and interest over the life of your loan.