What is typically required as part of the pre-approval process for a mortgage loan?

The pre-approval process for a mortgage loan commonly includes a thorough review of a complete loan application package. This package typically encompasses various financial documents such as income verification, credit history, employment details, and debt-to-income ratio calculations. By assessing this comprehensive information, lenders can determine the borrower’s creditworthiness and the amount for which they may be approved.

While an appraisal, a signed purchase agreement, and a down payment receipt may be necessary later in the mortgage process—once the borrower has made an offer on a home—these items are not generally required during the initial pre-approval phase. The focus at this stage is primarily on the borrower's financial profile to establish their potential eligibility for a loan, rather than on specifics of the property or purchase agreement.