How to get pre-approved for a mortgage in California, Florida, or Texas
In a competitive market, the buyer with a solid pre-approval beats the buyer with a bigger offer and a shaky one more often than people think. Listing agents read pre-approval letters carefully — and a strong one changes how your offer is received. Here's how to get one done right.
Pre-qualification vs. pre-approval
A pre-qualification is an estimate based on what you tell a lender — useful for early budgeting, but nobody has verified anything. A pre-approval means your credit, income, and assets have actually been reviewed against real program guidelines. Sellers know the difference. When your goal is to write offers, pre-approval is the standard that counts.
The documents to gather
- Last two years of W-2s (or two years of tax returns if self-employed)
- Most recent 30 days of pay stubs
- Last two months of bank and asset statements
- Photo ID; visa or work-authorization documents where applicable
- If divorced: settlement terms affecting income or obligations
Self-employed with write-offs that shrink your taxable income? You may fit a bank-statement program instead — that's a strategy conversation, not a disqualification.
What underwriting actually looks at
Four things drive nearly every approval: income stability (two-year history is the norm), debt-to-income ratio (monthly obligations against gross income), credit profile (score and history both), and assets (down payment, closing costs, and reserves). A good advisor looks at the same four before submitting anything — so surprises surface in a conversation with Sam, not in an underwriter's denial.
State wrinkles worth knowing
California: high-cost county loan limits change what "conforming" means for you — structure matters on larger loans. Florida: condo purchases add an association review; budget time for it and expect insurance questions. Texas: if you're refinancing with cash out, Texas 50(a)(6) rules are unique in the country — get advice before you commit to a structure.
Keep your approval strong
Between pre-approval and closing: don't open new credit lines, don't make large unexplained deposits, don't change jobs without a conversation first, and don't finance a car or furniture "because you're approved anyway." Underwriting re-verifies before funding.
Ready to start? Tell Sam your goals in the 3-minute Financing Discovery, or go straight to the secure loan application (Form 1003).
Pre-approval FAQs
How long does mortgage pre-approval take?
With a complete application and documentation, most borrowers receive a pre-approval decision within 24 to 48 hours. Self-employed files or complex income can take a few days longer because more documentation is reviewed.
Does mortgage pre-approval hurt my credit score?
A pre-approval uses a credit inquiry, which typically has a small, temporary effect. Credit scoring models treat multiple mortgage inquiries within a short shopping window as a single event, so comparing options responsibly does not stack damage.
How long is a pre-approval letter good for?
Most pre-approval letters are valid for 60 to 90 days. If your search runs longer, the file is refreshed with updated pay stubs and statements — usually a quick update rather than starting over.