BankingUS

How Mortgage Preapproval Works

Prepared by the BankingUS Editorial Team. Last reviewed October 25, 2026. How we review

Preapproval means a lender reviews your income, assets and credit and indicates how much it may lend. It is not a final commitment. It can strengthen an offer but typically involves a credit check.

Verify with official sources

Start with the CFPB and confirm details with your provider.

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