Module 2: Pre-Approval Mastery
This is the lesson that gets you ready to set up for your pre-approval.
It is important to understand first what to expect when talking to lenders. This way you can leverage your knowledge to get the best rates, terms, and provide the correct documents right away!
Now lets make sure you’re ready by completing the checklist below. Most of these should be completed already!
BONUS: Pre-Approval Checklist:
□ Calculate DTI: Self-Audit DTI Calculator (Download in Module 1, Lesson 1)
Monthly Debt: $________
Monthly Income: $________
DTI = Debt ÷ Income → Must be <43%
□ Pull Credit Score (CreditKarma.com - Free)
Goal: 580+ (620 ideal)
□ Use Bonus: Dispute Template (Download in Module 1, Lesson 2)
Goal: 580+ (620 ideal), use dispute template to dispute charges.
□ Gather Documents:
□ Last 2 Years Tax Returns
□ 30 Days Paystubs
□ 2 Months Bank Statements
□ Driver’s License + SSN
□ Avoid New Debt:
No car loans
No credit cards
No “buy now, pay later
□ Calculate Max Loan (Downloaded in Module 2, Lesson 2):
Know your estimated max purchase price
Have the confidence when talking with lenders on rates, terms, and expectations!
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
Complete the Pre-Approval Checklist
BOOK 15-MIN STRATEGY CALL - I’ll review your next step (book below)
Alright, that’s as much prep as we need to be confident with talking to a lender, now lets move to lesson 3 where we shop the best lenders!