Home Buying Coarse
IN THIS LESSON
Overview
Pre-approval is the financial foundation of the entire process. It tells us how much you can borrow, what your monthly payment will be, and which loan programs you qualify for. Without a pre-approval letter, sellers will not take your offer seriously.
Behind the Scenes
The lender pulls your credit, verifies income, employment, and assets, then matches you with a loan program (Conventional, FHA, VA, USDA, etc.).
Once you’re under contract, the file is sent to underwriting. The underwriter checks every detail against lending guidelines. They are the ones who ultimately issue your “clear to close.”
If documents are missing or inconsistent, the underwriter will issue “conditions” that must be satisfied before you can close.
Key Points
You’ll provide documents such as pay stubs, W-2s/1099s, bank statements, and ID.
The pre-approval amount is based on your debt-to-income ratio (DTI) — not just your income.
I’ll help you interpret your pre-approval and use it to filter homes that qualify for your loan type.
Tip: Always get pre-approved before looking at homes — this saves time and prevents disappointment if a home doesn’t qualify for your financing.
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