Approved: What Documents You Really Need
If you’re thinking about buying a home, getting pre-approved is one of the smartest
first steps you can take.
A mortgage pre-approval shows sellers that you’re serious, helps you understand your
budget, and gives you a head start before you start house hunting.
Here’s exactly what to expect — and what you’ll need to provide.
What Is Mortgage Pre-Approval?
Pre-approval is when a lender reviews your financial information and determines how
much you may qualify to borrow.
Unlike pre-qualification (which is a quick estimate), pre-approval is more official and
backed by documentation.
Step 1: Basic Personal Information
To begin, you’ll provide:
• Full legal name
• Social Security number (for credit pull)
• Current address and housing history
• Employment history
Step 2: Proof of Income
Lenders want to confirm you have stable income.
Common documents include:
For W-2 Employees• Last 2 years of W-2s
• Most recent pay stubs (last 30 days)
For Self-Employed Borrowers
• Last 2 years of personal tax returns
• Last 2 years of business tax returns (if applicable)
• Year-to-date profit & loss statement
Other Income Sources
• Social Security award letters
• Pension statements
• Rental income documentation
Step 3: Proof of Assets
You’ll need to show where your down payment and reserves are coming from.
Documents include:
• Last 2 months of bank statements
• Retirement account statements
• Investment account statements
Tip: Large deposits may require explanation, so keep records.
Step 4: Credit Review
Your credit score impacts:
• Interest rate
• Loan eligibility
• Mortgage insurance costsWe’ll review:
• Credit score
• Monthly debts
• Payment history
If improvements are needed, we’ll guide you through the next steps.
Step 5: Review of Current Debts
Lenders look at your debt-to-income ratio, including:
• Car loans
• Student loans
• Credit card payments
• Personal loans
The goal is to ensure your mortgage payment fits comfortably.
Step 6: Pre-Approval Letter Issued
Once reviewed, you’ll receive a pre-approval letter outlining:
• Approved loan amount
• Loan type
• Estimated monthly payment range
This gives you an advantage when making offers.
Common Mistakes to Avoid Before Closing
After pre-approval, avoid:
• Opening new credit accounts
• Making large purchases• Changing jobs without notifying your lender
• Moving money between accounts without documentation
Get Pre-Approved with Confidence
At The Harris Team, we make pre-approval simple, fast, and stress-free.
Ready to start? We’ll walk you through every document and every step.
