How to Get Pre-approved
What's the process for getting pre-approved for a loan? It depends on what type of home buyer you are. Which of these profiles best describes you?
Quick pre-approval: You want a ballpark idea of what you can afford, and a pre-approval letter so you can start shopping for a home. You'll worry about the details of picking a lender and a mortgage program after you find a home to buy.
- Gather documentation that proves your financial suitability for a loan.
- Contact your current bank or credit union, or one of our partner lenders, and ask to be pre-approved for a mortgage.
- Complete a loan application.
- Receive the pre-approval letter from your lender or broker.
In-depth pre-approval: You want to figure out exactly what you can afford and which mortgage is right for you. You want to be certain which lender or broker you'll use before you find a home to buy.
- Gather documentation that proves your financial suitability for a loan.
- Educate yourself on your different mortgage options.
- Find a lender or broker.
- Discuss your home buying and financial goals with your lender.
- Complete a loan application.
- Receive the pre-approval letter from your lender or broker.
Tip!
If you're ready to talk to a lender or broker but you're not sure where to start, we can help. Redfin has a list of recommended mortgage brokers and lenders. Our recommendations are based on our experience only; we don't accept referral fees from third-parties. There's never any pressure to work with one our recommended lenders, or to buy a home with Redfin. Here's our list of recommendations.