How to get pre-approved for a mortgage in 5 steps.
Last verified May 23, 2026The direct answer. To get pre-approved for a mortgage, do five things in order: pull all three credit reports and confirm your FICO score is at least 620 for conventional or 580 for FHA, gather two years of income and asset documents, request rate quotes from at least three lenders within a 14-day window so the credit inquiries count as one, submit the full application package to your chosen lender, and receive a written pre-approval letter valid 60 to 90 days. A complete pre-approval typically takes 7 to 14 business days and a strong package can lock a rate 0.25 to 0.50 percentage points below an incomplete one.
Pull your credit and confirm the minimum score.
Pull all three reports free at AnnualCreditReport.com. Minimum FICO scores in 2026 are 620 for conventional loans, 580 for FHA with 3.5 percent down (500 with 10 percent down), 580 for VA, and 640 for USDA. Scores above 740 generally qualify for the best rates. Dispute any errors before you apply; a corrected error can lift a score 20 to 60 points.
Gather two years of income and asset documents.
Standard pre-approval package: two years of W-2s, two years of tax returns (all schedules), 30 days of pay stubs, 60 days of bank statements, 60 days of investment and retirement statements, documentation of any other income, a list of debts with balances and payments, and a government-issued photo ID. Self-employed borrowers add two years of business tax returns and a year-to-date P&L.
Get rate quotes from at least three lenders within 14 days.
Rate-shop with three to five lenders: at least one big bank, one credit union, and one mortgage broker. All credit inquiries within a 14-day window for the same loan type count as a single inquiry on your FICO score, so the rate shop costs you nothing in credit-score points. Compare APR (which includes fees), not just the headline interest rate.
Submit the full application package to your chosen lender.
Once you pick a lender, submit the full package and a $300 to $500 application fee (sometimes waived). The lender pulls credit, verifies employment and assets, runs the file through automated underwriting (Desktop Underwriter or Loan Prospector), and issues a conditional approval typically within 7 to 14 business days. Respond to document requests within 24 hours to avoid restarts.
Receive the written pre-approval letter.
The pre-approval letter states the maximum loan amount, the loan program, the interest rate locked or floating, and the conditions still pending. It is valid 60 to 90 days. Use the maximum number as your shopping ceiling; bid at or below it. If your search runs longer than the validity window, the lender re-verifies credit and income with refreshed documents.
Five things to verify this week.
- Pull all three credit reports free at AnnualCreditReport.com.
- Confirm FICO score meets the minimum for your target loan program.
- Gather the full income and asset documentation list.
- Get rate quotes from three to five lenders within a 14-day window.
- Submit the full application to your chosen lender and request the written pre-approval letter.
Questions readers ask most often.
What credit score do I need to get pre-approved for a mortgage?
Minimum FICO scores in 2026 are 620 for conventional loans, 580 for FHA with 3.5 percent down (500 with 10 percent down), 580 for VA loans, and 640 for USDA loans. Scores above 740 qualify for the best rates. A score in the low-700s typically costs 0.25 to 0.50 percentage points more than a score above 740.
How long does mortgage pre-approval take?
A complete pre-approval typically takes 7 to 14 business days from full application submission to written letter. Some online lenders advertise instant pre-qualification, which is faster but is not the same thing; it is a soft check based on stated income, not a verified pre-approval an offer letter requires.
Does pre-approval hurt my credit score?
Each lender pull is a hard inquiry that trims a few FICO points. All mortgage-related credit inquiries within a 14-day window (45 days for some scoring models) count as a single inquiry. Rate-shop three to five lenders inside that window and the impact is the same as one inquiry.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate based on stated income with no document verification and usually no hard credit pull. Pre-approval is a verified analysis based on submitted documents and a hard credit pull, issued as a written letter. Sellers generally require pre-approval, not pre-qualification, with an offer.
How long is a mortgage pre-approval valid?
Standard pre-approval letters are valid 60 to 90 days. After that window, the lender re-verifies credit, income, and assets with refreshed documents. Some lenders re-issue a fresh letter the same day with new pay stubs and a new credit pull.
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Source: True North by Competitive Compass. "How To Get Pre Approved For A Mortgage In 5 Steps". Published 2026-05-23.
URL: https://competitive-compass.com/true-north/how-to-get-pre-approved-for-a-mortgage-in-5-steps.html