{"id":143566,"date":"2026-04-09T06:15:27","date_gmt":"2026-04-09T10:15:27","guid":{"rendered":"https:\/\/www.houzeo.com\/blog\/?p=143566"},"modified":"2026-04-09T06:17:57","modified_gmt":"2026-04-09T10:17:57","slug":"mortgage-preapproval","status":"publish","type":"post","link":"https:\/\/www.houzeo.com\/blog\/mortgage-preapproval\/","title":{"rendered":"How to Get Pre Approved for a Mortgage in 2026?"},"content":{"rendered":"\n<p>2026 has been a competitive market for homebuyers. Mortgage rates are hovering around 6.5% and competition for well-priced homes is still strong. <\/p>\n\n\n\n<p>Moreover, the median monthly mortgage payment is between $2,070 and $2,331 in 2026. So, to have an edge over other buyers and to tackle expensive loans, you must get a mortgage pre-approval.<\/p>\n\n\n\n<p>The mortgage pre-approval process determines how much you can borrow. This helps you estimate your loan budget and <a   href=\"https:\/\/www.houzeo.com\/blog\/average-mortgage-payment\/\" target=\"_blank\" rel=\"noreferrer noopener\">monthly payments<\/a>. Also, pre-approval allows a quicker closing once you find the right home. <\/p>\n\n\n\n<p><strong>So Start here! <\/strong><\/p>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-custom-accordion custom-accordion\">\n<div class=\"wp-block-custom-accordion-item accordion-item\"><button class=\"accordion-header\"><span class=\"accordion-title\">\ud83c\udfe0 What is Houzeo?<\/span><img decoding=\"async\" loading=\"lazy\" width=\"840px\" height=\"450px\" class=\"accordion-icon\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/flat-fee-mls\/faqArrow.svg\" alt=\"toggle\"\/><\/button><div class=\"accordion-content\">\n<p>Houzeo is America&#8217;s best home buying and selling platform.<\/p>\n\n\n\n<p><strong>For Home Sellers:<\/strong> List your home for a Flat Fee, and save 2.5% to 5.5% on the listing agent commission! That&#8217;s thousands of dollars extra in your pocket.<\/p>\n\n\n\n<p><strong>For Home Buyers:<\/strong> Houzeo has the most number of <a   href=\"https:\/\/www.houzeo.com\/homes-for-sale\">houses<\/a><a   href=\"https:\/\/www.houzeo.com\/homes-for-sale\" target=\"_blank\" rel=\"noreferrer noopener\">f<\/a><a   href=\"https:\/\/www.houzeo.com\/homes-for-sale\">or sale<\/a>. Start your dream home search now!<\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-custom-accordion custom-accordion\">\n<div class=\"wp-block-custom-accordion-item accordion-item\"><button class=\"accordion-header\"><span class=\"accordion-title\">\ud83d\udcf1 Does Houzeo have a mobile app?<\/span><img decoding=\"async\" loading=\"lazy\" width=\"840px\" height=\"450px\" class=\"accordion-icon\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/flat-fee-mls\/faqArrow.svg\" alt=\"toggle\"\/><\/button><div class=\"accordion-content\">\n<p>Yes! You can list your home for sale or search millions of homes on the Houzeo mobile app!<\/p>\n\n\n\n<p>Download now on the <a   href=\"https:\/\/apps.apple.com\/app\/id1576836461\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Apple App Store<\/a> or the <a   href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.houzeo.houzeo&#038;pli=1\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Google Play Store<\/a>.<\/p>\n<\/div><\/div>\n<\/div>\n\n\n\t<div  class=\"hfsWidget \" data-widget-title=\"Find your dream home \ud83c\udfe0\" data-widget-list-item1=\"1st item\" data-widget-list-item2=\"2nd item\" data-widget-list-item3=\"3rd item\" data-widget-type=\"buyer1\" data-widget-vendor-type=\"inspector\" data-widget-state=\"us\" data-widget-city=\"\" data-widget-redirect-url=\"https:\/\/www.houzeo.com\/homes-for-sale\" data-widget-redirect-text=\"Homes for sale\" data-widget-button-url=\"https:\/\/www.houzeo.com\" data-widget-button-text=\"\" data-widget-min-price=\"0\" data-widget-max-price=\"0\" data-widget-min-area=\"0\" data-widget-max-area=\"0\" data-widget-sidebar=\"false\">\n        <div class=\"widgetMainBox mainBox456\">\n        <div class=\"widgetBox widgetBox3 buyer-one\">\n            <div class=\"widgetTop\" style=\"display: flex;\">\n                <div class=\"widgetTopcont\">\n                    <div class=\"homePageQuickListing -page homepage widgetInBox3 hfs_new_design_widget\">\n                      <div class=\"HeaderTopSidebar\"> \n                        <p class=\"headerStyle\">Find your dream home \ud83c\udfe0<\/p>\n                                                                         <div class=\"widgetList skeleton skeleton-text\">\n                            <p>View 1,620,695 homes for sale in <span\n                            class=\"propertyStateSpan\">US<\/span><\/p>                            \n                        <\/div>\n                                                                      <\/div>  \n                        <div class=\"verifyFieldForm addInput\">\n                            <div class=\"inputSearchBox\">\n                                <div class=\"inputBoxElement addressBar\">\n                                    <input type=\"text\" name=\"ITBTtRE\" id=\"buyerAutocomplete\"\n                                        placeholder=\"Enter an address, city, neighborhood, or ZIP\"\n                                        class=\"pac-target-input buyerAutocomplete\" autocomplete=\"off\">\n                                <\/div>\n                                <span class=\"errorStreetMsg errorMsg\">Please enter valid address<\/span>\n                            <\/div>\n                            \n                            <div class=\"inputSubmitBox\">\n                                                                <button id=\"buyerBtnBox456\" class=\"continueCta storeAddress next_btn buyerBtnBox\">Search\n                                    <span class=\"arrowContinue\"><\/span><\/button>\n                            <\/div>\n                        \n                        <\/div>\n                    <\/div>\n                <\/div>\n            <\/div>\n            <div class=\"widgetInsideBox\">\n                <div class=\"widgetPropertyBoxNew\" id=\"propertyContainer\">\n                <div class=\"widgetPropertyInnerBox\">   \n                 \t\t\t\t\t\t   <div class=\"widgetPropColumnNew halfWidthCard\">\n\t\t\t\t\t\t\t  <a href=\"https:\/\/www.houzeo.com\/homes\/4459-shaw-blvd-st-louis-mo-63110\/hzid_1b1766b6\" class=\"widgetAnchorColumnLink\" target=\"_blank\" >\n\t\t\t\t\t\t\t\t   <div class=\"widgetImageBox\">\n\t\t\t\t\t\t\t\t\t   <img decoding=\"async\" src=\"https:\/\/cdn.houzeo.com\/idx\/media\/80\/MARISMMAR96063655\/0_67bb761bdfaea90d10df2feb_37d10e0d4b_dim_640X450.webp\" alt=\"\" onerror=\"this.src='https:\/\/dtpwvruv8ddnl.cloudfront.net\/seller\/listing\/uploads\/listing_images\/thumbnails\/empty-property.jpg';\">\n\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t\t   <img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/idx\/maris-logo-xs.webp\" alt=\"logo\" class=\"insideWidgetLogo\">\n\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t   <div class=\"widgetTextBox\" >\n\t\t\t\t\t\t\t\t\t   <p class=\"priceText\">$545,500<\/p>\n\t\t\t\t\t\t\t\t\t   <span class=\"addressText\">\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t4459 shaw blvd, <br\/>st. louis, MO 63110\t\t\t\t\t\t\t\t\t<span class=\"suummarize-info grey-img\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/blog-info-gray.svg\" alt=\"\">\n\t\t\t\t\t\t\t\t\t\t <span class=\"voult-tooltip-box\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"info-wrap\">\n\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"fz-12\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\tListing Provided by: Selma Zekovic | Jason Mitchell Real Estate Mis <br>\t\t\t\t\t\t\t\t\t\t\t\t\tSource: MARIS MLS-MO | MLS#: 25009677<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t   <\/div>\n\t\t\t\t\t\t\t   <\/a>\n\t\t\t\t\t\t   <\/div>\n\t\t\t\t\t\t   \t\t\t\t\t\t   <div class=\"widgetPropColumnNew halfWidthCard\">\n\t\t\t\t\t\t\t  <a href=\"https:\/\/www.houzeo.com\/homes\/530-532-woodside-ave-cumberland-md-21502\/hzid_58c92552\" class=\"widgetAnchorColumnLink\" target=\"_blank\" >\n\t\t\t\t\t\t\t\t   <div class=\"widgetImageBox\">\n\t\t\t\t\t\t\t\t\t   <img decoding=\"async\" src=\"http:\/\/bright-media01.prd.brightmls.com\/bright\/images\/0000\/8046\/3600\/3462\/804636003462_512_384_WM_nMIMXB-yfo5-H14H.jpg\" alt=\"\" onerror=\"this.src='https:\/\/dtpwvruv8ddnl.cloudfront.net\/seller\/listing\/uploads\/listing_images\/thumbnails\/empty-property.jpg';\">\n\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t\t\t\t   <img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/idx\/bright-mls-logo-xs.webp\" alt=\"logo\" class=\"insideWidgetLogo\">\n\t\t\t\t\t\t\t\t\t\t\t\t   \t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t   <div class=\"widgetTextBox\" >\n\t\t\t\t\t\t\t\t\t   <p class=\"priceText\">$75,000<\/p>\n\t\t\t\t\t\t\t\t\t   <span class=\"addressText\">\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t530\/532 woodside ave, <br\/>cumberland, MD 21502\t\t\t\t\t\t\t\t\t<span class=\"suummarize-info grey-img\">\n\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/dtpwvruv8ddnl.cloudfront.net\/images\/blog\/blog-info-gray.svg\" alt=\"\">\n\t\t\t\t\t\t\t\t\t\t <span class=\"voult-tooltip-box\">\n\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"info-wrap\">\n\t\t\t\t\t\t\t\t\t\t\t\t<p class=\"fz-12\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\tListing Provided by: Jordan Ellis Anderson | Better Homes & Gardens Real Estate Old Line Group <br>\t\t\t\t\t\t\t\t\t\t\t\t\tSource: Bright MLS-NJ | MLS#: MDAL2014130<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t   <\/div>\n\t\t\t\t\t\t\t   <\/a>\n\t\t\t\t\t\t   <\/div>\n\t\t\t\t\t\t                        <div class=\"widgetPropColumnNew fullWidthCard \">\n\t\t\t\t\t\t<a href=\"https:\/\/www.houzeo.com\/homes-for-sale\" class=\"widgetanctextfind widgetancTextForAll\" target=\"_blank\">Homes for sale<span><img decoding=\"async\" src=\"https:\/\/houzeo-media-1.s3.amazonaws.com\/homes-for-sale\/blue-arrow.svg\" alt=\"arrow\" width=\"11\" height=\"10\"><\/span> \n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n                   <\/div>   \n               \n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n       \n    <\/div>\n\t<script>\n    document.addEventListener(\"DOMContentLoaded\", function() {        \n        if (!window.assetsLoaded) {\n            window.assetsLoaded = true;\n            var version = (typeof customData !== 'undefined' && customData.customVersion) ? customData.customVersion : '1.0';\n            loadScript('\/blog\/wp-content\/themes\/houzeo-new-design\/js\/hfs-widget.js?version=' + version);\n            loadCSS('\/blog\/wp-content\/themes\/houzeo-new-design\/css\/hfs-widget.css?version=' + version);\n        }    \n    });\n\t\t\n\t<\/script>\n\t\n\n\n\n<div class=\"wp-block-houzeo-takeaways-list takeawaysSec\"><p class=\"headKeySec\">Preapprovals are Key<\/p><ul class=\"listing\"><li>86% of home sellers prefer buyers who are pre-approved for a mortgage.<\/li><li>Most listing agents require you to submit a pre-approval with your offer. They want and need to know that you are serious and qualified to buy the house they\u2019ve listed.<\/li><li>A pre-approval will typically take less than 24 hours. And getting pre-approved will not harm your credit score. This is because most lenders use \u201csoft\u201d credit pulls which do not register as inquiries on your credit report.<\/li><li>72% of homebuyers do not shop around for their mortgage. They close their loan with the lender who pre-approved them.<\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\" id=\"mortgage-preapproval\"><strong>What Is a Mortgage Preapproval?<\/strong><\/h2>\n\n\n\n<p>Mortgage pre-approval is the initial evaluation of your finances to determine the loan amount you can get. Remember, it doesn\u2019t guarantee the actual loan.<\/p>\n\n\n\n<p>During preapproval, a loan officer reviews your finances, such as income, DTI, credit history, etc., to determine:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan amount you qualify for<\/li>\n\n\n\n<li>The <a   href=\"https:\/\/www.houzeo.com\/blog\/mortgage-interest-rates-forecast\/\" target=\"_blank\" rel=\"noreferrer noopener\">interest rate<\/a><\/li>\n\n\n\n<li>The <a   href=\"https:\/\/www.houzeo.com\/blog\/average-mortgage-payment\/\" target=\"_blank\" rel=\"noreferrer noopener\">monthly mortgage payment<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"margin-top-15\">After a lender pre-approves your mortgage, you get a pre-approval letter, which you can use to make offers. This letter shows sellers you have a lender to finance your purchase and are serious about <a   href=\"https:\/\/www.realestatequeen.com\/how-to-buy-a-house\/\" target=\"_blank\" rel=\"noreferrer noopener\">home buying<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"prequalification-preapproval-approval\"><strong>Preapproval vs. <strong>Prequalification<\/strong><\/strong><\/h3>\n\n\n\n<p><a   href=\"https:\/\/www.houzeo.com\/blog\/prequalification-vs-preapproval\/\" target=\"_blank\" rel=\"noreferrer noopener\">Preapproval and prequalification<\/a> are often used interchangeably, but they have different verification requirements.<\/p>\n\n\n\n<p>Prequalification is a cursory review of your finances without a comprehensive document review or credit checks. It is based on factors such as your credit score, down payment, monthly debt, and loan structure.<\/p>\n\n\n\n<p>Whereas, a mortgage preapproval involves a more thorough review of documents and your credit score. To obtain preapproval for a mortgage, you need to provide documents such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Proof of financial history <\/li>\n\n\n\n<li>W-2s <\/li>\n\n\n\n<li>A mortgage statement (if you already own a home)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading margin-top-28\"><strong><strong>Preapproval vs. Approval<\/strong><\/strong><\/h3>\n\n\n\n<p>Mortgage pre-approval is the process to determine the loan amount you qualify for. A lender preapproves a mortgage based on your financial history and credit scores.<\/p>\n\n\n\n<p>Home loan approval, on the other hand, involves a thorough assessment of the property you want to buy. The lender verifies home appraisal, <a   href=\"https:\/\/www.houzeo.com\/blog\/home-inspections\/\" target=\"_blank\" rel=\"noreferrer noopener\">home inspection<\/a>, title, and survey documents before the approval.<\/p>\n\n\n\n<p>In short, preapproval for a home loan is the lender&#8217;s promise to grant the loan, and approval is the actual issuing of the loan.<\/p>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\"><strong>Does Getting Preapproved Hurt Your Credit Score?<\/strong><\/h2>\n\n\n\n<p>Yes, mortgage preapproval temporarily lowers your credit score.<\/p>\n\n\n\n<p>During the preapproval, you allow the lender to access your credit report. The lenders review the report via one of the three credit bureaus \u2013 Experian, TransUnion, or Equifax. Lenders obtain a score based on these credit reports.<\/p>\n\n\n\n<p>The credit score examination falls under a &#8220;hard inquiry,&#8221; which indicates acquiring new debt. This causes a temporary dip in your credit score. However, the impact of a hard inquiry decreases with time, and it is completely dropped off after two years.<\/p>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\" id=\"how-to-get-preapproved-for-a-mortgage\"><strong>How to Get Preapproved for a Mortgage?<\/strong><\/h2>\n\n\n\n<p>The home loan preapproval process consists of six steps.<\/p>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"Step-1\"><strong>Step 1: Check Your Credit Score<\/strong><\/h3>\n\n\n\n<p><a   href=\"https:\/\/www.houzeo.com\/blog\/what-credit-score-is-needed-to-buy-a-house\/\" target=\"_blank\" rel=\"noreferrer noopener\">Credit score<\/a> impacts the preapproval mortgage process to a significant extent.&nbsp;Different mortgages have different credit score requirements.<\/p>\n\n\n\n<div style=\"height:14px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Loan Type<\/strong><\/td><td><strong>Cut Off Credit Score<\/strong><\/td><\/tr><tr><td>Conventional Mortgage<\/td><td>620<\/td><\/tr><tr><td>FHA <\/td><td>580<\/td><\/tr><tr><td>USDA<\/td><td>640<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The common credit scoring model <a   href=\"https:\/\/www.houzeo.com\/blog\/what-credit-score-is-needed-to-buy-a-house\/#fico-score-for-mortgage\" target=\"_blank\" rel=\"noreferrer noopener\">FICO (Fair Isaac Corporation) score<\/a> for most lenders is 620. <\/p>\n\n\n\n<p>A credit score of 740 is ideal for the lowest rate. At a high-interest rate, even a score of 500 can help you get a preapproved home loan.<\/p>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"Step-2\"><strong>Step 2: Know Which Mortgage Program to Pick<\/strong><\/h3>\n\n\n\n<p>Here\u2019s a quick mortgage preapproval checklist for each <a   href=\"https:\/\/www.houzeo.com\/blog\/types-of-home-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">home loan type<\/a>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><strong>Conventional Mortgage Preapproval<\/strong>:<\/strong> A <a   href=\"https:\/\/www.houzeo.com\/blog\/conventional-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">conventional mortgage<\/a> is a home loan not backed by a government agency. You can get a conventional loan from private mortgage lenders. It is subject to their guidelines, down payment requirements, credit score criteria, and interest rates. <\/li>\n\n\n\n<li><strong>FHA Mortgage Preapproval:<\/strong> The Federal Housing Administration gives <a   href=\"https:\/\/www.houzeo.com\/blog\/fha-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">FHA loans<\/a> to borrowers with lower credit scores and higher debt-to-income ratios. Remember, low credit scores = higher interest rates.\u00a0<\/li>\n\n\n\n<li><strong>VA Mortgage Preapproval:<\/strong> The United States Department of Veterans Affairs offers <a   href=\"https:\/\/www.houzeo.com\/blog\/what-is-va-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">VA loans<\/a> to veterans. With no down payment and lenient credit requirements, you can even get a <a   href=\"https:\/\/www.houzeo.com\/blog\/can-you-get-a-va-loan-with-bad-credit\/\" target=\"_blank\" rel=\"noreferrer noopener\">VA loan with bad credit<\/a>.\u00a0<\/li>\n\n\n\n<li><strong>USDA Mortgage Preapproval:<\/strong> Low to moderate-income home buyers in rural areas can apply for <a   href=\"https:\/\/www.houzeo.com\/blog\/usda-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\">USDA loans<\/a>. They offer zero down payment loans but you need to cover the <a   href=\"https:\/\/www.houzeo.com\/blog\/usda-loan-closing-costs\/\" target=\"_blank\" rel=\"noreferrer noopener\">USDA closing costs<\/a> of 2% to 6%.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"Documents\"><strong>Step 3: Collect Documents Needed for Mortgage Preapproval<\/strong><\/h3>\n\n\n\n<p id=\"required-documents\">The <a   href=\"https:\/\/www.houzeo.com\/blog\/documents-needed-for-mortgage-pre-approval\/\" target=\"_blank\" rel=\"noreferrer noopener\">documents to get a preapproval mortgage<\/a> are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Proof of Income<\/li>\n\n\n\n<li>Employment Verification<\/li>\n\n\n\n<li>Credit History<\/li>\n\n\n\n<li>Proof of Assets <\/li>\n\n\n\n<li>Personal Identification<\/li>\n\n\n\n<li>Debt-to-income Ratio (DTI)<\/li>\n\n\n\n<li>W-2 Statements<\/li>\n\n\n\n<li>Pay Stubs<\/li>\n\n\n\n<li>Bank Statements <\/li>\n\n\n\n<li>Driver&#8217;s License <\/li>\n\n\n\n<li>Social Security Number<\/li>\n<\/ul>\n\n\n\n<p class=\"margin-top-15\">Self-employed borrowers who own 25% or more of their business, need to submit tax returns for the past two years. The lender may also request profit\/loss statements and letters from the CPA explaining the income.<\/p>\n\n\n\n<p>Mortgage lenders will give you a loan estimate after submitting the documents. It will include information like the status of your preapproval and the amount you have qualified for.<\/p>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"Step-4\"><strong>Step 4: Compare Lenders<\/strong><\/h3>\n\n\n\n<p>Research&nbsp;<a   href=\"https:\/\/www.houzeo.com\/pros\/mortgage-lenders-near-me\" target=\"_blank\" rel=\"noreferrer noopener\">mortgage lenders<\/a>&nbsp;and their interest rates. Compare them based on the loan amount you need to borrow, their guidelines, loan offers, and mortgage policies.<\/p>\n\n\n\n<p>If you choose a lower <a   href=\"https:\/\/www.houzeo.com\/blog\/apr-vs-interest-rate\/#APR\" target=\"_blank\" rel=\"noreferrer noopener\">Annual Percentage Rate (APR)<\/a> you can save more in the long term. Borrowers across the nation have saved over <a   href=\"https:\/\/www.lendingtree.com\/home\/mortgage\/mortgage-shopping-study\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">$84,000<\/a> over the term of their loans this way. <\/p>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"Step-5\"><strong>Step 5: Fill Out the Application Form<\/strong><\/h3>\n\n\n\n<p>The lender will require&nbsp;you to fill out your personal details and mention the purpose of <a   href=\"https:\/\/www.houzeo.com\/blog\/how-to-get-a-mortgage\/\" target=\"_blank\" rel=\"noreferrer noopener\">borrowing the loan<\/a>. <\/p>\n\n\n\n<p>Application forms typically have a standard format and rarely vary across lenders. After submitting the application you need to furnish the required documents.<\/p>\n\n\n\n<h3 class=\"wp-block-heading margin-top-15\" id=\"Step-6\"><strong>Step 6: Get the Preapproval Letter<\/strong><\/h3>\n\n\n\n<p>The loan officer issues a preapproval mortgage letter if you meet the criteria set by the lender. <\/p>\n\n\n\n<p>After you receive the letter, keep the copies of that handy when you make offers on properties. A preapproval mortgage letter will keep you ahead of the competition in a seller&#8217;s market.<\/p>\n\n\n\n<p>\u00bb<strong>Also Read:<\/strong> <a   href=\"https:\/\/www.houzeo.com\/blog\/mortgage-commitment-letter\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>What Is a<\/strong> <strong>Mortgage Commitment Letter<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\" id=\"get-mortgage-preapproval-online\"><strong>Can I Get Preapproved for a Mortgage Online?<\/strong><\/h2>\n\n\n\n<p>Yes, you can. Here are 3 simple steps to get online mortgage preapproval:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Apply for the Pre-approval on the Lender&#8217;s Website:<\/strong> Fill out the necessary income and debt information without uploading any documents. Some lenders sync the borrower\u2019s application with the bank accounts to simplify the further process.<\/li>\n\n\n\n<li><strong><strong>Decide the Type of Loan:<\/strong><\/strong> Evaluate your current financial situation for better payback options. Compare various mortgage types based on your credit score, monthly payment budget, down payment budget, etc.<\/li>\n\n\n\n<li><strong>Get the Preapproval Letter:<\/strong> After verifying all your finances, the bank issues the preapproval letter for the mortgage.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\" id=\"factors-affecting-mortgage-preapproval\"><strong>Factors Affecting Home Loan Preapproval<\/strong><\/h2>\n\n\n\n<p>The following factors impact a preliminary mortgage approval:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Credit Score:<\/strong> The credit score determines the interest rate you\u2019ll be paying for your mortgage. An ideal credit score of 740 can get you the lowest interest rates. You can also qualify with a lower credit score but at a higher interest rate.<\/li>\n\n\n\n<li><strong>Debt to Income Ratio:<\/strong> DTI ratios should be at most 43% when dividing total debt by pretax income. However high credit scores or extra mortgage reserves may allow a <a   href=\"https:\/\/www.houzeo.com\/blog\/debt-to-income-ratio\/\" target=\"_blank\" rel=\"noreferrer noopener\">DTI ratio<\/a> of up to 50%.<\/li>\n\n\n\n<li><strong>Down Payments and Closing Costs:<\/strong> Your expenditure on a <a   href=\"https:\/\/www.houzeo.com\/blog\/what-is-a-down-payment\/\" target=\"_blank\" rel=\"noreferrer noopener\">downpayment<\/a> depends on the type of loan you opt for. An average home buyer pays a 20% down payment. However, with a Freddie Mac and Fannie Mae backed <a   href=\"https:\/\/www.houzeo.com\/blog\/conforming-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">conforming mortgage<\/a>, your downpayment expenses can be as low as 3%. You\u2019ll have to spare an additional 2% to 4% to pay the <a   href=\"https:\/\/www.houzeo.com\/blog\/how-much-are-closing-costs\/\" target=\"_blank\" rel=\"noreferrer noopener\">typical closing costs<\/a>.\u00a0<\/li>\n\n\n\n<li><strong>Employment Stability:<\/strong> Mortgage lenders perform an employment stability check. They verify the borrower&#8217;s last 2 years of employment history, full-time salary, or other hourly earnings.\u00a0<\/li>\n\n\n\n<li><strong>Mortgage Reserves:<\/strong> You should ideally have several months&#8217; worth of mortgage payments in the bank. Lenders only often approve a low credit score or high DTI-ratio applicant.<\/li>\n\n\n\n<li><strong>Fair Market Value of Home: <\/strong>Lenders consider the current value of your home while deciding the mortgage amount. Houzeo&#8217;s <a   href=\"https:\/\/www.houzeo.com\/how-much-is-my-house-worth\" target=\"_blank\" rel=\"noreferrer noopener\">fair market value calculator<\/a> can be your next step toward mortgage preapproval. By accurately estimating your home&#8217;s value, you\u2019ll know how much amount you qualify for.<\/li>\n<\/ul>\n\n\n\n<div class=\"wp-block-houzeo-grey-text blue-box-content-list\">\ud83c\udfe1 <strong>Looking for a mortgage?<\/strong> Try <a   href=\"https:\/\/www.houzeo.com\/mortgage-calculator\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>America&#8217;s Mortgage Calculator<\/strong><\/a> to see how much house you can afford. Get an instant amortization schedule and a detailed cost breakdown for free \ud83d\udcb2.<\/div>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\"><strong>Bottom Line<\/strong><\/h2>\n\n\n\n<p>Mortgage preapproval is the first step in securing a mortgage. It gives you a clear picture of <a   href=\"https:\/\/www.houzeo.com\/blog\/how-much-house-can-i-afford\/\" target=\"_blank\" rel=\"noreferrer noopener\">how much home you can afford<\/a>. <\/p>\n\n\n\n<p>At the end of the preliminary mortgage approval process, you get a pre-approval letter. This letter shows you as a serious buyer and helps you negotiate better in a competitive market.<\/p>\n\n\n\n<h2 class=\"wp-block-heading margin-top-28\"><strong>Find Your New Home With Houzeo<\/strong><\/h2>\n\n\n\n<p>With thousands of property listings, Houzeo.com is one of the biggest property listing sites in the US. Find condos, townhouses, co-ops, and other types of <a   href=\"https:\/\/www.houzeo.com\/homes-for-sale\" target=\"_blank\" rel=\"noreferrer noopener\">homes for sale<\/a> on Houzeo.<\/p>\n\n\n\n<p class=\"margin-top-15\"><strong>\u00bb NEED MORE CLARITY?\u00a0<\/strong>Read these exclusive\u00a0<a   href=\"https:\/\/www.realestatequeen.com\/houzeo-reviews\/\" target=\"_blank\" rel=\"noreferrer noopener\">Houzeo reviews<\/a>\u00a0and learn why the platform is the best in America\u2019s competitive housing market.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"new-excerpt\"><p class=\"small-desc\">The amount you can borrow for your mortgage is determined by preapproval. What to expect from your lender and how to navigate the mortgage preapproval process are outlined...<\/p><\/div><div class=\"reading_date\"><span class=\"readtime\">9 mins read<\/span><span class=\"date\">Apr 09, 2026<\/span><\/div>","protected":false},"author":102,"featured_media":426515,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46225,46244],"tags":[27757,27763,27764,27760,27758,23545],"class_list":["post-143566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buyer","category-mortgage-pre-approval","tag-getting-preapproved-for-home-loan","tag-how-to-get-approved-for-a-home-loan","tag-how-to-get-pre-approved-for-a-mortgage","tag-how-to-get-preapproved-for-a-home-loan","tag-how-to-get-preapproved-mortgage","tag-mortgage-loan-preapproval"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Get Pre Approved for a Mortgage in 2025?<\/title>\n<meta name=\"description\" content=\"Steps to get Mortgage Preapproval: Step 1: Check Your Credit Score, Step 2: Know Which Mortgage Program to Pick. Click here! for more information.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.houzeo.com\/blog\/mortgage-preapproval\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Get Pre Approved for a Mortgage in 2025?\" \/>\n<meta property=\"og:description\" content=\"Steps to get Mortgage Preapproval: Step 1: Check Your Credit Score, Step 2: Know Which Mortgage Program to Pick. 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