How do I get pre-approved for a conventional loan?
Submit a full loan application with credit pull, two months of pay stubs, two years of W-2s and tax returns, two months of bank statements, government ID, and authorization for the lender to verify everything. The lender runs automated underwriting and issues a pre-approval letter showing the qualifying loan amount.
Plain-English explanation
Pre-approval (real, full-file) is different from pre-qualification (quick estimate based on stated information). Real pre-approval includes credit pull, income verification, asset verification, and an automated-underwriting decision. The pre-approval letter typically lasts 60-90 days; credit reports expire at 120 days; pay stubs and bank statements expire at 90-120 days. If your search drags, the lender re-pulls and re-verifies. Subject to lender process.
What can change the answer?
Florida insurance premiums, property tax millage and Save Our Homes rules, county property-appraiser practice, HOA dues, CDD fees, and condo law can change the answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Florida
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.