Check your credit score and credit report for errors
Gather income documentation (pay stubs, W-2s, tax returns, 1099s if applicable)
Collect employment and earnings details for the last 2 years
Calculate your monthly debt obligations (credit cards, student loans, auto loans, child support, alimony)
Review your bank and asset statements (checking, savings, retirement accounts if needed)
Determine how much you can pay for a down payment
Estimate closing costs and set aside funds for reserves if required
Choose the loan type and target properties (conventional, FHA, VA, USDA)
Use a mortgage prequalification tool or contact multiple lenders for preapproval
Provide the lender with required information (identity, income, assets, debts)
Complete the lender’s application and authorize a credit check
Ask the lender for a written preapproval letter stating loan amount and terms
Verify your preapproval details (rate/terms, loan type, maximum amount, expiration date)
Avoid new debt and major purchases during the preapproval period
Keep employment and income stable and do not change jobs if possible
Do not open new credit accounts or apply for additional loans
Provide updated documents quickly if the lender requests them
Confirm underwriting conditions and what they require to finalize approval
Keep your preapproval letter current until you make an offer and throughout the process