Getting pre-approved, without the headache
What a lender looks at, the paperwork to gather, and the few things to avoid until you close.
The short version
Pre-approval means a lender has checked your income, savings, debts and credit, and tells you how much they're likely to lend. It's your real budget, and it makes sellers take your offer seriously.
The four things lenders look at
Income
Steady, provable pay. Lenders like seeing a two-year track record, and they have rules for self-employed and commission income.
Credit
Your score and history help decide whether you qualify and what rate you get.
Savings
Money for your down payment and closing costs, sitting somewhere they can verify.
Debts
How your monthly payments, including the new house payment, compare to your income.
Your paperwork pile
Every lender is a little different, but this is the usual list. Gather it once and you're set.
- Photo IDDriver's license or passport.
- Recent pay stubsUsually about the last 30 days.
- W-2sUsually the last two years.
- Tax returnsA must if you're self-employed or have side income.
- Bank statementsUsually the last two months, every page, even the blank ones.
- Retirement and investment statementsIf you're using them or they count toward reserves.
- Gift letterIf family is helping with the down payment.
- Notes on big depositsAnything unusual will get a question, so a quick explanation saves time.
Pre-qualified is not pre-approved
Pre-qualified
- Based on what you tell the lender
- Quick, often online
- A rough ballpark
- Sellers don't put much weight on it
Pre-approved
- Lender checks your credit and documents
- Takes a little longer
- A real number you can shop with
- Makes your offer much stronger
Ten ways to keep your loan out of trouble
Lenders often check again right before closing, so keep things steady.
The Ten Commandments of Buying a Home
From the day you apply until the day you close, keep your finances boring.
- DO NOT apply for new credit or credit cards.
- DO NOT make big purchases, like a car or furniture.
- DO NOT max out the cards you already have.
- DO NOT pay off or close old accounts without asking first.
- DO NOT change jobs or how you're paid.
- DO NOT move money between accounts without a paper trail.
- DO NOT make large deposits you can't explain.
- DO NOT co-sign a loan for anyone.
- DO NOT miss or be late on any payments.
- DO NOT make any money move before talking to your lender.
When in doubt, call me or your lender first. A two-minute question can save your loan.
Questions I hear a lot
Does getting pre-approved hurt my credit?
A credit check can cause a small, usually temporary dip. Credit scoring models generally treat several mortgage checks in a short shopping window as one, so comparing lenders is fine.
Is a pre-approval a guarantee?
No. Your loan still needs final approval, an appraisal if required, and no big changes to your finances before closing.
How long is a pre-approval good for?
It varies by lender, often a few months. If your search runs longer, your lender can update it.
Ready to start looking?
Grab a coffee with me and we'll map out your own plan. No pressure, no homework.
General information for Washington buyers and sellers, not legal, tax or lending advice. Every home and every deal is a little different, so let's talk about yours. Updated October 2026.