Mortgage Pre-Approval Checklist Form Template
Streamline Your Mortgage Process with Our Checklist Template
Navigating the mortgage pre-approval process can be challenging without the right guidance. This checklist template is designed to help home buyers like you easily gather essential documents, ensuring you meet lender requirements for a speedy approval. Benefit from clear organization, improved efficiency, and reduced stress as you compile things like income verification, credit documentation, and asset information-all while maintaining a compliant, user-friendly format. Try the live template to simplify your pre-approval journey.
When to use this form
When you want a fast, confident yes from a lender before shopping, use this checklist. It helps first-time buyers, move-up buyers, and co-borrowers collect the exact documents lenders ask for, so you set a clear budget and move quickly. Use it before you tour homes, make an offer in a hot market, or compare rates across lenders. If you plan to apply right after, pair it with the Mortgage loan application form to reduce back-and-forth. To speed credit review, include a signed Credit report authorization form. The result: fewer surprises, a stronger pre-approval letter, and less time between your offer and closing.
Must Ask Mortgage Pre-Approval Checklist Questions
- What is your current gross monthly income and each income source?
Lenders use verified income to set your maximum loan and debt-to-income ratio. Listing W-2 wages, 1099 work, bonuses, and overtime up front prevents follow-up requests.
- What are your monthly debt payments and outstanding balances?
Accurate payments for credit cards, auto loans, student loans, and child support change your qualifying amount. Sharing minimums and remaining terms helps the lender price your rate and speed approval.
- Have you authorized a credit check, and what is your estimated credit score range?
Your score and history affect interest rate, mortgage insurance, and program options. If you are unsure, submit a Credit report request form so the team can review your file without delay.
- How much do you have for down payment and closing costs, and what are the sources of funds?
Documented funds and gift letters are required for underwriting. Disclosing savings, retirement draws, gifts, and grants now avoids last-minute conditions.
- What price range, property type, and occupancy will you pursue in the next 90 days?
These details align your pre-approval letter with a realistic budget and the right product. They also match what you will provide in the Home loan application form, which keeps your file consistent.
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