How to Get Preapproved for a Mortgage, and Why It's So Important (2024)

Table of Contents

  • What does it mean to be preapproved for a mortgage?
  • Preapproval vs. prequalification: What’s the difference?
  • When should you get preapproved for a mortgage?
  • How to get preapproved for a mortgage
  • What to do if you’re declined for a preapproval
  • What to avoid when seeking mortgage preapproval
  • FAQs

Money Mortgages

Article updated on Nov 16, 2023

The housing market is changing, but here's some advice: Get preapproved for a mortgage before you start house hunting.

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How to Get Preapproved for a Mortgage, and Why It's So Important (1)

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Luke Daugherty is a freelance writer, editor and former operations manager. His work covers operations, marketing, sustainable business and personal finance, as well as many of his personal passions, including coffee, music and social issues.

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David McMillin

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is also a musician, which means he has spent a lot of time worrying about money. He applies the lessons he's learned from that financial balancing act to offer practical advice for personal spending decisions.

See full bio

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How to Get Preapproved for a Mortgage, and Why It's So Important (2)

Laura Michelle Davis

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Laura is a professional nitpicker and good-humored troubleshooter with over 10 years of experience in print and digital publishing. Before becoming an editor with CNET, she worked as an English teacher, Spanish medical interpreter, copy editor and proofreader. She is a fearless but flexible defender of both grammar and weightlifting, and firmly believes that technology should serve the people. Her first computer was a Macintosh Plus.

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Our Experts

How to Get Preapproved for a Mortgage, and Why It's So Important (3)

Written by

Luke Daugherty is a freelance writer, editor and former operations manager. His work covers operations, marketing, sustainable business and personal finance, as well as many of his personal passions, including coffee, music and social issues.

See full bio ,

David McMillin

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is also a musician, which means he has spent a lot of time worrying about money. He applies the lessons he's learned from that financial balancing act to offer practical advice for personal spending decisions.

See full bio

Edited by

How to Get Preapproved for a Mortgage, and Why It's So Important (4)

Laura Michelle Davis

Editor

Laura is a professional nitpicker and good-humored troubleshooter with over 10 years of experience in print and digital publishing. Before becoming an editor with CNET, she worked as an English teacher, Spanish medical interpreter, copy editor and proofreader. She is a fearless but flexible defender of both grammar and weightlifting, and firmly believes that technology should serve the people. Her first computer was a Macintosh Plus.

See full bio

CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.

Reviews ethics statement

Why You Can Trust CNET Money

Table of Contents

  • What does it mean to be preapproved for a mortgage?
  • Preapproval vs. prequalification: What’s the difference?
  • When should you get preapproved for a mortgage?
  • How to get preapproved for a mortgage
  • What to do if you’re declined for a preapproval
  • What to avoid when seeking mortgage preapproval
  • FAQs
How to Get Preapproved for a Mortgage, and Why It's So Important (5)

Written by

Luke Daugherty

Contributor

Read more from Luke

Luke Daugherty is a freelance writer, editor and former operations manager. His work covers operations, marketing, sustainable business and personal finance, as well as many of his personal passions, including coffee, music and social issues.

Written by

David McMillin

Read more from David

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is also a musician, which means he has spent a lot of time worrying about money. He applies the lessons he's learned from that financial balancing act to offer practical advice for personal spending decisions.

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How to Get Preapproved for a Mortgage, and Why It's So Important (2024)
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