Get Pre-Approved: Your First Real Step
A pre-approval letter is your ticket into the game — here’s how to get one this week.
Pre-Qualification vs. Pre-Approval
Pre-qualification is a lender’s guess from what you tell them. Pre-approval means they’ve verified income, assets, and credit — and listing agents only respect the second one. In any competitive situation, an offer without pre-approval attached is an offer that waits at the back of the line.
A pre-approval letter is your ticket into the game — here’s how to get one this week.
What Lenders Will Ask For
Gather before you call: recent pay stubs, two years of tax returns and W-2s, bank statements, and photo ID. Self-employed buyers add profit-and-loss statements. Having the folder ready turns a week-long process into days.
How It Shapes Your Search
Pre-approval sets your real budget — including taxes and insurance, not just the sticker price — and surfaces which loan type fits your situation. The loan comparison guide and the rest of the financing library cover every program in plain English.
Getting Connected
I’m your agent, not your lender: programs, rates, and approvals come from licensed loan officers. What I add is introductions to lenders who actually know this corridor — including the rural-property lending (USDA, land, manufactured homes) that big-bank call centers fumble.
Common Questions
Does pre-approval hurt my credit?
It involves a credit pull, and credit models generally treat multiple mortgage inquiries within a short shopping window as one event. A licensed lender can walk you through exactly how that applies to you.
How long does a letter last?
Typically 60–90 days depending on the lender, and refreshing it is routine. Get it before you fall in love with a house — not after.
Should I shop multiple lenders?
Comparing a couple of Loan Estimates is smart and normal. Rates matter, but so do responsiveness and the ability to actually close on rural properties.
Next step: making an offer. First house? The first-time buyer guide covers the programs.
Marcos Gil, REALTOR® · Keller Williams Commonwealth · Based in Beattyville, serving Lexington to the Red River Gorge · Also owner of Central Property Services and publisher of Invest in the Gorge — any recommendation involving my other businesses is disclosed in writing.
Ask Marcos for a Lender Referral — (859) 310-1209