The short answer
To get pre-approved, submit a mortgage application with income, asset, and identity documents and authorize a credit pull. The lender verifies everything and issues a letter stating the loan amount, program, and expiration — usually within one to three business days once your paperwork is complete. Pre-approval letters typically last 60 to 90 days and are what sellers expect to see attached to an offer.
- Turnaround
- 1–3 business days
- Letter validity
- 60–90 days
- Credit impact
- Small, temporary
- Shopping window
- Multiple pulls count as one
01
Documents to gather first
Nearly every delay in pre-approval is a missing document. Collect these before you contact a lender and the process compresses to a couple of days.
- Two most recent pay stubs covering 30 days of income
- W-2s or 1099s for the last two years
- Two years of federal tax returns — required if you are self-employed
- Two months of statements for every account holding down payment funds
- Photo ID and Social Security number for the credit pull
- Documentation for other income: bonus, commission, rental, retirement, or support
- For self-employed buyers: profit and loss statements and business bank statements
02
What the lender does with them
The lender calculates qualifying income, verifies assets are sourced and seasoned, pulls credit, and runs your file through automated underwriting. That produces a loan amount tied to your ratios — the same math described in how much house you can afford.
03
How to read your pre-approval letter
| Line on the letter | Why it matters |
|---|---|
| Approved loan amount | Your borrowing ceiling — not necessarily your target price |
| Loan program | Conventional, FHA, or VA changes what sellers infer about your file |
| Down payment assumed | Sellers read a larger down payment as lower risk |
| Expiration date | Letters go stale; refresh before submitting offers |
| Conditions listed | Anything unverified is a real risk to closing |
Verified beats stated
Ask whether the lender reviewed actual documents or only what you reported. A letter based on verified income and assets carries far more weight with listing agents in a competitive Hollywood offer situation.
04
Pre-approval is not final loan approval
Underwriting re-verifies everything after you are under contract, and the appraisal and title work still have to clear. The sequence is laid out in the step-by-step home buying process. And if you are comparing terminology, see pre-qualification vs. pre-approval.
05
What can void a pre-approval
- Financing a car or opening a credit card during the process
- Changing jobs, going from salary to contract, or a gap in employment
- Large unexplained deposits or transfers between accounts
- Co-signing a loan for someone else, which adds to your debt ratio
- Letting the letter expire without updating documents
06
Shop lenders without hurting your credit
Credit scoring models treat multiple mortgage inquiries inside a short shopping window as a single event, so comparing two or three lenders costs you almost nothing. Compare Loan Estimates side by side — rate, points, lender fees, and cash to close — rather than verbal payment quotes.
Bring the letter to your first showing. Sellers and listing agents at most real estate companies in Hollywood, FL read the letter before they read the offer, and a verified pre-approval is what gets your terms taken seriously.
The same rules apply for clients across Davie and Pembroke Pines and the surrounding South Florida communities.