What Do You Need to Get Pre-Approved for a Mortgage? Your Week-One Checklist

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If you’re aiming to close before December 31, the first week isn’t about houses. It’s about money — specifically, getting pre-approved for a mortgage. A full pre-approval is the single step that protects your timeline — and it’s the one buyers most often put off.

Pre-qualified is not pre-approved

A pre-qualification is a quick estimate based on what you tell a lender. A pre-approval means the lender has pulled your credit and reviewed your income and asset documents. In a year-end race, that difference matters twice: sellers take your offer more seriously, and underwriting moves faster once you’re under contract because most of the work is already done.

Documents you need to get pre-approved for a mortgage

Gather these this week:

• Last 30 days of pay stubs
• W-2s for the past two years (and 1099s if you have side income)
• Two years of federal tax returns if you’re self-employed or commission-based
• Last two months of statements for every bank and investment account
• Photo ID
• Documentation for any gift funds you plan to use for your down payment

Lenders differ a little, but this list covers what most will ask for before you’re pre-approved for a mortgage. Scan them into one folder now. When your lender asks for something on December 10th, you want to answer in minutes, not days.

Protect your credit until closing

From pre-approval to the closing table, keep your financial picture boring:

• Don’t open new credit cards or finance furniture, cars, or appliances.
• Don’t change jobs if you can help it.
• Don’t move large sums of money between accounts without a paper trail.
• Keep paying every bill on time.

Lenders often re-check your credit and employment right before closing. A new car payment in December can sink a loan that was approved in October.

Plan around today’s rates — don’t wait on them

Rates have moved up this fall. Freddie Mac’s weekly average for a 30-year fixed was 7.40% on October 8, up from 6.30% a year earlier, and most forecasts I’m reading expect rates to hold near current levels through the end of the year. (Curious what goes into the rate you’re quoted? Here’s what determines your mortgage rate.)

Here’s what that means for a $350,000 home with 5% down (principal and interest only):

Each quarter-point is roughly $55–$60 a month at this price. Property taxes, homeowners insurance, HOA dues, and mortgage insurance come on top, so ask your lender for a full payment estimate — not just the rate.

Three tools worth asking about:

1. Rate lock length. If you’ll close in mid-to-late December, ask about a lock long enough to cover holiday delays.
2. Seller-paid buydowns. In a market where homes are sitting longer, sellers are often open to contributing toward a temporary or permanent rate buydown instead of a price cut. It can do more for your monthly payment. (More on that trade-off: rate buydown vs. waiting.)
3. Refinance later, if rates fall. You can’t go back and buy a house at last month’s price, but you may be able to refinance a rate down the road. Talk to your lender about the costs before you count on it.

Your next step

If you don’t have a lender yet, I’ll introduce you to two I trust to move quickly and communicate clearly through the holidays. Call or text 713-824-9389 and we’ll get your pre-approval started this week.

Next in the series: Searching Fort Bend County Homes for Sale? How to Find the Right One Fast.

Randall Smith, Broker, and Lenore Smith, Broker Associate, have sold more than 600 homes across Fort Bend County and Greater Houston over 24 years.

Lenore Smith, SRES® Broker Associate
Lenore Smith Realty Group, Inc. — We turn dreams into addresses!
713-824-9389 lenore@lenoresmith.com www.LenoreSmith.com
Equal Housing Opportunity
Serving Richmond, Rosenberg, Sugar Land, Missouri City, Fulshear, and Katy

Market figures and mortgage rates are as of October 2026 and change frequently. Payment examples are estimates of principal and interest only and are not a loan offer. This article is general information, not legal, tax, or lending advice — consult your lender, CPA, or attorney about your situation.