Getting pre-approved is one of the most important steps you can take as a first-time homebuyer. It sets the stage for everything that comes after what you can afford, which homes to consider, and how strong your offer will be when it’s time to make one.

Here’s how to approach pre-approval the right way so you can feel confident and prepared from the start.

Understand What Pre-Approval Really Means

A mortgage pre-approval isn’t just a ballpark guess. It’s a written commitment from a lender saying how much they’re willing to lend you, based on your finances. It also includes a rate hold (usually for 90 to 120 days), which can protect you if rates rise while you shop.

Just know: a pre-approval is not a guarantee. Your mortgage still needs to be fully approved once you find a property and the lender reviews the details of the home.

Know What Lenders Are Looking At

To get pre-approved, lenders will review:

The stronger your profile in these areas, the better your rate and options will be.

Check Your Credit Score Early

Your credit score plays a big role in your mortgage options. If you’re not sure where yours stands, check it ahead of time. You can request your report for free through Equifax.

If your score is below 680, don’t panic but give yourself time to improve it. Simple things like paying down credit cards and making consistent payments can boost your score quickly.

Get Your Documents Ready

Being organized speeds things up and makes you look serious to lenders. Have these documents on hand:

The cleaner and clearer your paperwork, the smoother the process will be.

Be Honest About Your Finances

It’s tempting to round up your income or forget about that one loan payment but being fully transparent with your mortgage agent helps avoid surprises later. Any gaps or discrepancies can delay your approval or even cause it to fall through when it matters most.

Ask Questions

This is your first time buying a home, no one expects you to know it all. Ask about your rate options, down payment programs, or how changes to your finances might impact your approval. A good mortgage agent will walk you through everything without jargon or judgment.

Don’t Freeze After Getting Pre-Approved

Once you’re pre-approved, you’re in a strong position to start house hunting. Don’t let it sit too long. Rate holds expire, and if your financial situation changes, your numbers might too. Keep the momentum going while your approval is still fresh.

Getting pre-approved isn’t just paperwork; it’s your permission slip to shop with confidence. If you’re ready to get started, or even just want to run a few numbers and see what’s possible, I’d be happy to help you take that first step.