Get Pre-Approved Before You Shop
A pre-approval shows you what a lender may be willing to lend and helps sellers take your offer seriously. Wyze Realty is a real estate brokerage, not a lender. We can introduce you to local lenders, and you choose who to work with.
Where Are You Now?
How It Works
- Talk with a lender. Tell them what you hope to buy and how you plan to pay for it.
- Share your information with the lender. Lenders usually look at income, assets, debts and credit. Give that information to the lender directly, not to your real estate agent.
- Get your letter. The lender tells you the amount and the assumptions behind it.
- Shop with confidence. Your agent can include the letter with your offer.
What to Have Ready
Each lender has its own list. Many ask about the following:
- Recent pay stubs, W-2s or tax returns
- Recent bank and investment statements
- Monthly debts, such as car loans, student loans and credit cards
- Your down payment plan
- For VA loans, your service details
Good to Know
A pre-approval is not a loan offer. It is based on assumptions, and the final decision comes later. Ask the lender what could change it.
- Letters expire. Many last 30 to 60 days, so ask yours when it ends.
- You can compare. A pre-approval does not commit you to that lender. Compare Loan Estimates before you choose.
- Credit checks. Mortgage credit checks within a 45-day window count as a single inquiry on your credit report.
Tools and Programs
Wyze Realty is a real estate brokerage. We are not a lender or mortgage loan originator. We do not make loans, take loan applications, quote rates or decide who qualifies. You are free to choose any lender. Lender decisions, rates and terms come only from the lender. General information, not financial advice. Information from the Consumer Financial Protection Bureau: Get a preapproval letter and mortgage credit checks. Equal Housing Opportunity.