Module 2: Pre-Approval Mastery
This is the lesson that turns “I think I can buy” into “Here’s my pre-approval letter - let’s write offers.”
To get pre-approved start asking lenders in your area this:
My Exact Email Lender Script:
"Hi, I'm pre-qualifying for a 5% down multifamily loan in (city). I plan to live in one unit.
1. What’s your current rate for a 5% down owner-occupied duplex?
2. Any FHA 3.5% down options?
3. What are the closing costs and fees?
4. Do you offer 0% down programs? (If so, what’s the balloon term?)
5. Can I lock the rate today?
6. How long is pre-approval valid?
7. What documents do you need?
8. Do you allow rental income from the other unit to count toward qualification?
Thank you — I’ll compare 3 quotes and get back to you."
Yes - 0% down deals still exist in 2025 (community banks, credit unions, piggy-back 80/10/10, or physician-style programs).
I closed a $145k duplex with $0 down because the numbers crushed and I had no cash.
Just watch the balloon terms - some mature in 7–10 years which can be refinanced - talk with lender about the options!
Remember this is what lenders need from you (You should already have these ready from lesson 2)
Last 2 years tax returns
Last 30 days of paystubs
2 months bank statements
Driver’s license + SSN
Most lenders let you upload everything through a secure portal.
My last pre-approval? 4 business days.
Don’t take the first offer. I shopped 10 lenders and saved 0.6% on my rate—that’s $75/mo on a $190k loan.
Lender Rate Monthly P&I
A 6.2% $1,163.69
B 6.8% $1,238.66
→ $75/mo = $26,988.05 saved over 30 years
DISCLAIMER:
Real estate and loans carry risk. Pre-approval is not a guarantee - final approval depends on appraisal, underwriting, and program rules. Always work with a licensed lender.
ACTION #2 - DO THIS TODAY
Use Lender Email Script above
Email or call 3 lenders and track their quotes today.
Call 10 if you’re really wanting the best rates and terms!
Get your Pre-Approval letter!
Head to Module 3—we’re nailing Property Hunt and finding cash-flowing duplexes. See you there!
BOOK 15-MIN STRATEGY CALL — I’ll review your quotes live