Getting Pre-Approved for a Home Loan

If you are starting your home search as a serious buyer, you want to consider getting pre-approved for a home loan. It requires a bit of work upfront but can streamline the process and make purchasing your home that much easier in the end.

What does it mean to be pre-approved?

Getting pre-approved means that your lender has reviewed your information in enough detail to tell you how much you may be able to borrow for your home purchase. They typically put a cap to the limit that you can borrow, as long as nothing in your financial situation changes.

You will still need to provide additional documentation and go through the home buying process to get an official approval and receive clear to close. This can include greater detail about your financial information, such as your expenses and income. It also means obtaining more information about the home you are purchasing to make sure that it meets all of the requirements that your lender or mortgage program requires.

What do I need to get pre-approved?

Your lender will give you a specific list of documents and information that they need to review and process your pre-approval. These almost always include:

• Proof of income: This can be a W-2, tax return, or self-employment income sheet. The specifics will vary by situation but you will need to show that you have the income to support your home’s purchase.
• Employment verification: Just like you have to show your income, you also need to show that you are employed and expect to remain so in the future. If you are self-employed, expect to provide more information and documentation about your work.
• Proof of identification: Your lender will need to make sure that you are who you say you are. This can be provided through a copy of your driver’s license or other photo ID. You will also need to provide your social security number to run your credit history.
• List of assets: Bank statements show your position going into the loan. Your lender wants to know that you have enough money to cover the down payment as well as adequate cash reserves.
• Credit check: To get a pre-approval letter, your lender will need to get your credit score. This is a required part of the home buying process for all reputable lenders and is best done early in the process to make sure there are no issues.

For current guidelines and terms, see Lendmire’s DSCR loan programs page.

About Lendmire

A non-QM mortgage broker (NMLS# 2371349), Lendmire arranges DSCR financing for real estate investors in 41 markets — 40 states plus Washington, D.C. Because deals are underwritten primarily on property cash flow rather than personal income documentation, the structure suits self-employed buyers and entity-owned portfolios. Lendmire places loans through wholesale investor lenders; it is not a direct lender. Scotsman Guide named Lendmire a Top Mortgage Workplace in both 2025 and 2026.