As a trusted mortgage lender in Atlanta, Success Mortgage Partners has helped countless homebuyers navigate the complexities of securing a home loan. One of the first steps in the home-buying process is getting pre-approved for a mortgage, but many potential buyers have questions about what that process entails. If you’re a homebuyer in Atlanta or the surrounding areas, you may have similar questions. In this post, we’ll answer some of the most common questions about mortgage pre-approval to help you understand what to expect and how to get the best mortgage for your needs.
A mortgage pre-approval is a written statement from a lender that indicates how much you may be able to borrow based on a review of your financial situation. During the pre-approval process, the lender will evaluate your credit score, income, debt, and assets to determine the maximum loan amount you could qualify for.
Typically a few hours to a couple of days, depending on how quickly you provide documents and if any issues arise.
No—pre-approval is based on initial info. Final approval still requires appraisal, inspection, and a full financial review.
Typically 60–90 days. After that, you may need to re-apply if you haven’t found a home.
It can help compare rates and fees—just do all credit checks within a short window to minimize score impact.