Mortgage Pre-Approval
A mortgage pre-approval is a lender's conditional commitment to lend you a specific amount based on a review of your credit, income, and assets. It's the credibility you bring to the table when you make an offer.
Pre-qualification vs pre-approval
Pre-qualification is a quick, informal estimate based on numbers you provide. It's a starting point, not a commitment.
Pre-approval involves a credit pull, document verification, and underwriting review. It carries real weight with sellers.
What you'll need to provide
Two most recent pay stubs and two years of W-2s (or tax returns if self-employed).
Two months of bank and investment statements.
Government-issued ID and Social Security number.
Authorization for the lender to pull your credit.
How to strengthen your file
Keep your debt-to-income ratio low — under 36% is ideal.
Avoid changing jobs or going self-employed during the process.
Don't move large sums between accounts without a paper trail.
Hold off on big purchases (cars, furniture) until after you close.
Key takeaways
- Pre-approval signals to sellers that financing is real, not hypothetical.
- Most pre-approvals are valid for 60–90 days.
- Avoid financial moves that change your snapshot once you're under contract.
Have questions about your situation?
Ark Beacon can answer questions and match you with a vetted lender in about 60 seconds.
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