Getting a mortgage preapproval?

Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

The information you will need for your preapproval is a minimum of 2 years of W-2s, recent paystubs and 3 months of bank history.

I encourage all of my buyer clients to get a "super pre-approval" where all of their financial information is verified by the lender up front. You will be in a better position to compete against other buyers in multiple offer situations.