What Documents Will I Need for a Mortgage Preapproval?

Getting preapproved for a mortgage is an important and helpful first step in the homebuying journey! Before you begin seriously house hunting, we recommend getting preapproved with a lender, like us. We’ll take you through why and what to expect in the process.


But First, What is a Preapproval?

A letter of preapproval from a lender indicates how much you are tentatively approved to borrow for a mortgage. To get preapproved with us, you’ll fill out a brief application, verify your identity and provide basic documentation of your finances.

Then, one of our Underwriters will review your documentation and provide you with a letter of preapproval that indicates how much you can borrow, your interest rate and what your monthly payment would be.

The Benefits of Getting Preapproved

Thankfully, there’s no downsides to getting preapproved – only benefits.

  • House Hunting Made Easier: When you know how much of a mortgage loan you might qualify for, you get an accurate picture of your buying power and can narrow down your search to houses in your budget.
  • You Become a Serious Buyer: A letter of preapproval signals to sellers that you’re a serious, credible buyer who is already working with a lender and is very likely to qualify for a mortgage loan. This is helpful in low-inventory markets with steep competition.
  • It Makes for Faster Closings: Since your information is already in your lender’s system, you’ll have already taken care of the beginning steps of the loan process and potentially expedite your closing date.

Preapproval vs. Prequalification

You may have also heard the term prequalification, but be aware, it’s not the same as preapproval. Both give an idea of how much of a home you can afford and if you qualify for a loan, yet one holds more weight. Prequalification will give you a general indication that you can qualify for a mortgage were you to apply, and it requires just a basic review of your finances. However, a letter of preapproval is a much stronger signal to sellers as it requires a more thorough review of your finances.


How Long Does a Preapproval Last?

Some lenders have an expiration date for their preapprovals, but ours don’t. However, typically after a few months, we update your information and, providing your financial situation did not change, we renew your preapproval. Then at time of application, all information is updated prior to the underwriting of your loan.

Documentation Required for Preapproval

In order to issue a letter of preapproval, your lender will require certain documentation to verify your identity and income. The list will vary depending on your lender, and other documents may be required based on your unique financial circumstances.

Generally though, here’s the documentation we’ll ask you to submit:

  • A Valid Government-Issued ID: We’ll need a valid driver’s license or social security card as identification to start with.

  • Income Documentation
    • 30 Days of Paystubs: Your employer should provide you a paystub that shows how much you are bringing in each pay period.
    • Last Two Years of W-2s and Tax Returns: We’ll want to see tax documents from the last two years.
    • 60 Days of Asset Statements: Statements for any other assets you might have (retirement accounts, investment accounts, etc.)
    • Statements for any other assets you might have (retirement accounts, investment accounts, etc.)
    • Two Years of Business Tax Returns (If You are Self-Employed): If you are self-employed, you will need to provide documentation for your business as well.

  • Additional Documentation if You Already Own Property: If you already own property, we’ll ask to see bills for all properties you own including mortgage statements, property tax bills, insurance bills and HOA payments.

Get Preapproved With PMA

Our easy preapproval process gives you the preliminary answers you need to qualify, so that you can borrow the maximum amount you need to purchase your dream home.

Plus, our online application interface and companion mobile app makes it simple to view the status of your preapproval and submit documents. You’ll get prompt notifications about important documentation we need from you, and access to your files once they’ve been uploaded. You can also easily communicate with your Loan Officer and send and receive messages quickly and safely.

Ready to Get started?

Scroll down and click “Get Preapproved Today” to begin your homebuying journey.

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Get Preapproved Today

Our easy preapproval process gives you the preliminary answers you need to qualify, so you can borrow the maximum amount you need to purchase your dream home.


NQM Funding, LLC (NMLS # 75597) dba - Premier Mortgage Associates; Villa Home Loans; Texas: Consumers wishing to file a complaint against a mortgage company or a licensed residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out-of-pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at -