What Florida Buyers Need to Know About Mortgage Pre-Approval

If you’re planning to buy a home in Florida, don’t start shopping until you’re pre-approved.

Here’s what that means, how it works, and why it gives you the edge.

What Is Pre-Approval?

Pre-approval is a formal letter from a lender stating how much home you can afford.

It includes:

• Purchase price limit
• Loan type (conventional, FHA, VA, etc.)
• Interest rate estimate
• Validity period (usually 60-90 days)

How It Helps You Win

• Shows sellers you’re serious
• Speeds up the offer process
• Helps your agent target the right homes
• Strengthens your offer in competitive markets

Florida listings often move fast. Pre-approval keeps you in the game.

What You’ll Need to Provide

• Proof of income (W-2s, pay stubs, tax returns)
• Credit check authorization
• Bank statements and asset documentation
• ID and employment history

Your lender may request additional docs depending on your profile.

Pre-Approval vs. Pre-Qualification

Pre-Qualification = quick estimate based on verbal or online info
Pre-Approval = verified documentation + credit check

Go pre-approved for serious buying.

Does It Affect Your Credit?

Yes, but only slightly. A single credit inquiry drops your score by a few points (often less than 5).

Shopping multiple lenders within a 45-day window only counts as one inquiry.

When Should You Get Pre-Approved?

• Before you start touring homes
• Valid for 60-90 days (ask your lender)
• Can be refreshed with updated docs if needed

Final Thought

Pre-approval gives you clarity, leverage, and speed.

Don’t house hunt without it.

📞 Call Michael Renick at 941.400.8735 to connect with trusted Florida lenders and get pre-approved today.

📣 Let’s Talk Strategy

Want a clear breakdown of your numbers and a smarter way to sell? Let’s connect.

• 📞 Call Mike: 941.400.8735
• 📍 Explore our blog series: Questions Buyers Are Asking
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