Start before you make an offer
An early financing conversation helps you organize your home search. Prequalification is usually an initial assessment based on information you provide. Preapproval commonly involves reviewing credit and financial documentation, but the lender’s process and the letter’s conditions vary.
Prepare your documents securely
A lender may ask for identification, pay statements, income records, tax returns, asset statements, and explanations of unusual deposits or debts. A self-employed borrower may need additional documentation. Use a verified application portal for documents, never a public contact form.
Understand the conditions
A preapproval does not guarantee funding. The lender must still review the property and complete underwriting. Changes in employment, debts, credit, funds, or property details may affect approval. Ask how long your letter is valid and what will need to be updated.
Start a preapproval conversationContinue learning
Use the CFPB’s Owning a Home resources to review the lending process and compare official loan documents. These guides are general education, not individualized financial advice.