Skip to main content

The Mortgage Pre-Approval Process

Tips to Get Started with a Mortgage Pre-Approval

Portrait picture of Couple looking at their new home

In a HOT BUYING & SELLING market what's your best competitive advantage? A Mortgage Pre-Approval.

What Is A Mortgage Pre-Approval?

A Mortgage Pre-Approval is the process of a Mortgage Specialist looking at your income, assets and credit score to determine what type of loan you could be approved for, how much you can borrow and what your interest rate might be.

Why is a Pre-Approval Important?

When you are ready to make the move in a hot housing market, being able to provide a pre-approval shows the buyer you are serious and have the funds to seal the deal. Some sellers and/or realtors may be less likely to consider an offer without a pre-approval letter.

How To Get Pre-Approved For A Mortgage:

The pre-approval process is the start to a mortgage application. This means the mortgage specialist will take a comprehensive review of your finances including a hard credit inquiry. To help the process go smoothly you should be prepared to provide information on the following:

  • Identification
  • Social Security number
  • 2 Years of address history
  • Proof of income
  • 2 years of job history
  • Proof of assets


  • W-2 statements
  • Pay stubs
  • Bank statements
  • License

Note: A pre-approval is Subject to Verification of the above information.

Below is a Sample Mortgage Pre-Approval Letter.

Mortgage Pre-Approval Sample Letter

©2023 MTC Federal Credit Union. NMLS# 411151. All rights reserved. Federally insured by the NCUA. Equal Housing Lender. Annual Percentage Rate (APR) may vary depending on each individual’s credit history and underwriting factors. All loans subject to credit union approval. All credit union loan programs, rates, terms and conditions are subject to change at any time and without notice. Offer may end at any time. Other restrictions may apply.