What can you actually afford? A plain-English guide to getting pre-approved

Before you fall in love with a listing, it helps to know the number a lender would actually back. Pre-approval looks at your income, debts, credit, and savings, and turns that into a range you can shop inside with confidence.

Why pre-approval comes before house-hunting, not after

Sellers and agents take pre-approved buyers more seriously, but the bigger reason is for you: it keeps you from wasting weekends on homes that were never in reach, and from underestimating what you could actually do.

What a lender is actually looking at

• Income and employment — steady, documentable income matters more than the raw number.
• Debt-to-income ratio — how much of your monthly income already goes to debt.
• Credit history — not just a score, but the story behind it.
• Down payment and reserves — what you have on hand, and what’s left after closing.

What to bring

Pay stubs, tax returns, bank statements, and a list of debts. Having these ready shortens the back-and-forth considerably.

Pre-approval is a snapshot, not a guarantee — your final terms depend on the specific home and lender you choose. That’s exactly why the next step is talking to someone who can walk your specific numbers, not a generic calculator.