By Go Real Estate
Before you fall in love with a home in Plano, there’s one step that will set you up for success: getting pre-approved for a mortgage. We always recommend our clients start here—because it can mean the difference between making a winning offer and missing out. In a competitive market, preparation is power.
Here’s what to expect from the mortgage pre-approval process and why it matters.
Key Takeaways
- Pre-approval gives you a clear home-buying budget and strengthens your offer.
- It shows sellers that you're a serious, qualified buyer.
- The process is straightforward and worth doing early.
- We connect clients with trusted local lenders every day.
What Is Mortgage Pre-Approval?
It’s a lender’s written commitment that you qualify for a specific loan amount, based on your finances.
Key components:
- Income and employment verification
- Credit check and debt-to-income analysis
- Review of assets and down payment sources
Why It Matters in the Plano Market
Homes here move fast. Sellers want to know you can follow through.
Benefits of pre-approval:
- Stronger offers that stand out to sellers
- Clearer home search because you know your price range
- Faster closing timelines once you find a home
Steps to Get Pre-Approved
The process is quicker and easier than most people expect.
What you’ll need:
- Recent pay stubs and W-2s (or tax returns if self-employed)
- Bank statements and asset documents
- Photo ID and Social Security number
Tips for a Smooth Approval Process
A little prep goes a long way.
Best practices:
- Avoid big purchases or credit changes during the process
- Respond promptly to lender document requests
- Ask questions if anything is unclear
FAQs
Is pre-approval the same as pre-qualification?
No. Pre-approval is more detailed and reliable, involving a full financial review.
How long does a pre-approval last?
Typically 60 to 90 days, but it can be refreshed with updated documents.
Can I still shop around for the best mortgage?
Yes—being pre-approved doesn’t lock you in with one lender.
Start the Mortgage Pre-Approval Process with Confidence
Getting pre-approved is one of the smartest first steps you can take when buying in Plano. We work with experienced lenders who can guide you through the process and help you shop for the best rate and terms.
Reach out today, and let’s connect you with the right resources to get started on your home buying journey in Plano.
Reach out today, and let’s connect you with the right resources to get started on your home buying journey in Plano.
