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5 min read ·Close the Deal

Pre-Approval Walkthrough

Key Takeaways

✓Pre-approval is different from pre-qualification—it carries more weight
✓You'll need income, asset, and identity documentation
✓Pre-approval typically lasts 60-90 days

Pre-Qualification vs. Pre-Approval

Pre-qualification is a quick estimate based on what you tell a lender—it carries little weight. Pre-approval involves document verification and a credit check, resulting in a conditional commitment to lend. Sellers take pre-approved buyers much more seriously.

Documents You'll Need

Gather pay stubs (last 30 days), W-2s and tax returns (last 2 years), bank statements (last 2-3 months), ID, and Social Security number. Self-employed buyers need additional documentation like profit/loss statements. Having documents ready speeds up the process significantly.

What Happens During Pre-Approval

The lender verifies your income, reviews your credit, and calculates how much they'll lend you. They'll issue a pre-approval letter stating your maximum loan amount. This letter is valid for 60-90 days. Don't make major financial changes (new credit, big purchases, job changes) during this period.

🏠 KHC Pre-Approval

If using KHC programs, work with a KHC-approved lender for pre-approval. They'll factor in down payment assistance and can tell you exactly what programs you qualify for. This gives you a complete picture of your buying power.

✅ Your Next Step

Gather your financial documents now—don't wait until you find a house. Being organized speeds up pre-approval.

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