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Get mortgage-ready before you go home shopping

House hunting is easier when you know your numbers. A mortgage pre-approval gives you a clearer idea of what you may be able to borrow, so you can look at homes that fit your budget and skip the guesswork.

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What is a mortgage pre-approval and how does it work

  • Know your price range

  • Estimate your payments

  • Shop with more focus

  • Find issues early

  • Move quicker

What is the difference between pre-approvals vs pre-qualifications

Comparison table
FeaturesPre-qualificationPre-approval
What it meansA rough estimateA more detailed review
What it usesBasic information you provideIncome, debts, credit history, down payment, and documents
Credit checkMay not include oneTypically includes one
Best forEarly "where do I stand?" planningGetting ready to shop seriously
Final approvalNoNo

Mortgage calculators to plan your next move

What you need to get pre-approved for a mortgage with YNCU

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What can affect my final mortgage approval?

What lenders look at during mortgage pre-approval

  • Your income

  • Your debts

  • Your down payment

  • Your credit history

  • Your housing costs

  • Other closing expenses

Okay, does pre-approval lock in my rate?

Commonly asked questions

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