Mortgage Pre-Approval

YOUR FIRST STEP

Why Pre-Approval Comes Before House Hunting

A pre-approval is a lender’s written estimate of how much you can borrow, based on a review of your credit, income, and assets. On the Emerald Coast, where good homes can move quickly, sellers often expect to see a pre-approval letter with your offer.

Pre-qualification vs. pre-approval

A pre-qualification is a quick estimate based on what you tell the lender. A pre-approval is stronger because the lender has verified your documents and pulled your credit.

What lenders usually ask for

  • Recent pay stubs and W-2s, or two years of tax returns if you are self-employed
  • Recent bank and investment statements
  • Photo ID and permission to check your credit
  • Details on any other properties you own

Second homes, rentals, and condos

Loans for second homes and investment properties can have different down payment and rate requirements than a primary residence. Condos add another layer: the lender also reviews the building and the association, and some condos do not qualify for certain loans. Ask your lender about this early — see Buying a Condo.

Budget for the full monthly cost

Beyond the mortgage payment, plan for property taxes, homeowners and wind insurance, flood insurance if needed, and HOA or condo dues. See Insurance & Flood Zones.

Need a lender recommendation? We are happy to share local lenders our clients have worked with. Call 850.225.9785 or email christine@docksiderealtyinc.com.

This page is general information to help you plan. It is not legal, tax, insurance, or lending advice, and rules can change. Please confirm details with the appropriate professional before you make decisions.

NEXT STEPS

After You Are Pre-Approved

SET YOUR RANGE

Choose a price range you are comfortable with — not just the maximum the lender approves — so there is room for insurance, dues, and furnishings.

START TOURING

We will set up a search for your price range and preferred communities and schedule showings.

MOVE QUICKLY

With your letter in hand, you can make a confident offer as soon as the right property comes along. Learn more about the buying process.