Ultimate Mortgage Preapproval Checklist

Feb 25, 2024

7-minute read

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When a lender preapproves you for a mortgage, they’re confirming that you’re financially positioned to handle a home loan and can afford the monthly payments. A mortgage preapproval – referred to by Rocket Mortgageas initial mortgage approval – also determines how much you can borrow, so it’s important to get preapproved early on in the home buying process.

Before a lender can preapprove your mortgage application, they’ll need certain documents to verify your income, job stability and other aspects of your finances. A mortgage preapproval checklist can help you stay organized and ensure you have everything you need for the process ahead.

What Do You Need For Mortgage Preapproval?

Unlike with prequalification, you’ll need to submit some documentation before you can receive a mortgage preapproval. Most of this will be standard financial paperwork that’s required of all borrowers, but you may be asked to provide additional information depending on the type of loan you’re seeking, the residence you wish to buy and the work you do.

For a mortgage preapproval, borrowers will need to have some or all of the following items ready to go:

  1. Personal identification
  2. A Social Security card
  3. Pay stubs
  4. Bank statements
  5. Tax documents
  6. Investment account statements
  7. A list of monthly debts
  8. Rental information and landlord references
  9. Gift letters
  10. Their credit report

Again, just to be clear: Not all of the items on this list – important as they may be – apply to all borrowers.

See What You Qualify For