How to get mortgage pre-approval

Mortgage pre-approval usually means a lender has reviewed your income, assets, and credit and given you a conditional commitment for a loan amount and sometimes a rate. You’ll typically complete an application and provide documents such as pay stubs, tax returns, and bank statements.

Pre-approval can help you shop with confidence and show sellers you’re serious. It’s not a guarantee of final approval or a specific rate; terms can change based on the property and underwriting.

You can get pre-approved with more than one lender. Doing so lets you compare the rates and terms each offers when you’re ready to lock. Keep your loan scenario consistent (e.g. loan amount, term, loan type) so the comparison is meaningful.

After you have pre-approvals or quotes from several lenders, compare them side by side—interest rate, APR, closing costs, and cash to close. Organizing your quotes in a comparison tool makes it easier to see the differences.