Mortgage Pre-Approval in Fresno, CA
A mortgage pre-approval is a lender's written commitment to lend you a specific amount based on verified financial information. It's one of the most powerful tools you have as a buyer — it tells sellers you're serious and ready to close.
Pre-qualification vs. pre-approval
Pre-qualification is a quick estimate based on information you provide, without verification. Pre-approval goes further — it requires documents like W-2s, pay stubs, bank statements, and a credit check, and it results in a conditional commitment letter. Pre-approval carries far more weight with sellers.
What you'll need for pre-approval
Most lenders ask for 30 days of pay stubs, two years of W-2s and federal tax returns, two months of recent bank statements, and a government-issued photo ID. Self-employed buyers may need business returns and profit-and-loss statements. Having these ready speeds up the process.
How long pre-approval takes
With your documents in hand, pre-approval can often be completed in a day or two. The pre-approval letter is typically valid for 60–90 days, after which your credit and documents may need to be refreshed.
Why pre-approval matters in a competitive market
In the Fresno and Central Valley market, sellers often receive multiple offers. A pre-approval letter shows you've already cleared the financial hurdles, which can make the difference between your offer being accepted or passed over.
What pre-approval doesn't guarantee
Pre-approval is conditional. The final loan depends on the property appraisal, your financial situation staying stable, and no major changes to your credit or employment before closing. Avoid opening new credit accounts or making large purchases between pre-approval and closing.
Frequently Asked Questions
Does pre-approval hurt my credit score?
A pre-approval involves a hard credit inquiry, which may cause a small, temporary dip in your score. Shopping multiple lenders within a short window (typically 14–45 days) usually counts as a single inquiry for scoring purposes.
How long is a pre-approval letter valid?
Most pre-approval letters are valid for 60–90 days. If you haven't found a home by then, your lender can refresh your credit and documents to reissue it.
Ready to take the next step?
Get pre-qualified with Marcus Cavazos — no obligation, personalized to your situation.