Mortgage Pre Approval Explained Step by Step

🏦✅ Mortgage Pre-Approval Explained — Step by Step Want to know exactly how mortgage pre-approval works and why it matters? In this video we walk you through the entire pre-approval process — from the documents lenders ask for to the pre-approval letter that makes your offer stronger. What you’ll learn (step-by-step): Why pre-approval matters — pre-qualification vs pre-approval and why sellers take pre-approved buyers seriously. What lenders review — income, employment, credit, assets, and debts. Documents you need — pay stubs, tax returns, bank statements and more. How lenders calculate how much you can borrow — the role of credit score, DTI, and down payment. How long pre-approval takes — realistic timelines and tips to speed it up. Understanding the pre-approval letter — what it guarantees and its limits. Next steps after pre-approval — rate shopping, locking, and making offers. Common reasons for denial & how to fix them — practical fixes you can do now. Quick Pre-Approval Checklist: • Valid ID (driver’s license/passport) 🪪 • Last 2–3 years tax returns & W-2s 🧾 • Recent pay stubs (30–60 days) 💼 • Bank & investment statements (last 2–3 months) 💳 • List of debts and monthly obligations (student loans, credit cards) 📝 • Proof of additional income (bonuses, rental income) 📄 • Rental history or proof of residency (if requested) 🏠 Pro tips: • Get pre-approved by multiple lenders to compare loan limits and fees. • Avoid big purchases or new credit lines until after closing. • Small credit improvements (paying down cards) can boost your rate/offer quickly. 👍 Like this video if it helped — comment your pre-approval questions below — I reply to every one! 🔔 Subscribe for more mortgage guides, rate updates, and homebuying tips. 🔖 Hashtags #MortgagePreApproval #PreApprovalChecklist #HomeBuying #MortgageTips #FirstTimeHomeBuyer #GetPreApproved #Mortgage2026 #HomeLoanGuide