How to Get Prequalified for a Mortgage: 5 Simple Steps

Last updated April 11, 2026 by Tim Stacey, Stacey Solutions powered by Xpert Home Lending, Inc NMLS 2179191.

Step 1: Know your income and debts

Before you call a lender, gather a rough picture of your finances. Know your gross monthly income (before taxes), your monthly debt payments (car loans, student loans, credit cards, personal loans), and approximately how much you have in savings. This is the information the lender will ask for during the prequal conversation.

Step 2: Check your credit score

Pull your own score through your bank or a free service. You do not need an exact number, but knowing whether you are in the low 600s, mid 700s, or somewhere in between helps the lender give you a more accurate range. If you spot errors on your report, dispute them before moving forward.

Step 3: Contact a lender

Reach out to a mortgage broker or lender and tell them you want to get prequalified. A broker is the best starting point because they can assess your situation against multiple loan programs (VA, conventional, FHA) and give you a broad view of what is available.

Step 4: Provide your basic financial information

The lender will ask about your income, debts, employment, approximate credit score, and how much you have available for a down payment. No documents are required at this stage. It is a verbal or online exchange that takes 15 to 20 minutes.

Step 5: Receive your prequalification estimate

Based on the information you provide, the lender gives you an estimated loan amount and payment range. This is your starting budget for house hunting. Keep in mind that the prequal is not verified, so the number may change once you submit documents for a full pre-approval.

What comes after prequalification

Prequalification is the first step, not the last. Before you start making offers, you need a full pre-approval with documented income, verified assets, a credit pull, and an underwriting run. The prequal tells you roughly where you stand. The pre-approval tells you exactly what you can do.

Frequently asked questions

Does prequalification affect my credit score?

No. Prequalification does not involve a credit pull, so there is no impact on your score.

Is prequalification the same as pre-approval?

No. Prequalification is an estimate based on self-reported information. Pre-approval is a verified commitment based on documented income, assets, and credit.

How long does a prequalification last?

There is no formal expiration because nothing has been verified. However, if your financial situation changes, the estimate may no longer be accurate.

Can I get prequalified online?

Yes. Many lenders and brokers offer online prequalification. A phone call or in-person conversation can be more valuable because you get guidance on which programs fit your situation.

Should veterans get prequalified for a VA loan specifically?

Yes. VA prequalification accounts for benefits like zero down payment and no PMI, which significantly change your budget compared to a conventional prequal.

Want to get prequalified today?

It takes less than 30 minutes and gives you a clear starting point for your home search. Reach out and I will walk you through the numbers.

Run early estimates with our mortgage calculators.