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Home Loan Process

Pre-Approval Stage

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Obtaining a Mortgage Pre-Approval

Obtaining a Mortgage Pre-Approval in Minnesota

Understanding Mortgage Pre-Qualification vs. Pre-Approval

A pre-qualification differs from a pre-approval in its level of depth. Pre-qualification is a basic form of approval that relies mostly on the information you provide about your financial situation. In contrast, a pre-approval is a more thorough process where a lender examines your assets, debt, and credit history to accurately assess your eligibility for a loan.

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The Importance of Mortgage Pre-Approval

In today’s competitive real estate market, securing a mortgage pre-approval is crucial. When you’re in the market for a new home, having a lender’s pre-approval can significantly strengthen your position, especially in multiple offer situations. This letter indicates to sellers that your financial capabilities have been thoroughly vetted by a lender, making your offer more compelling compared to one backed only by a pre-qualification.

Gold Leaf Lending Team: Your Partner in Efficient Pre-Approvals

Imagine finding your dream home and wanting to make an offer immediately, but it’s outside regular business hours. At Gold Leaf Lending, we understand that real estate opportunities don’t always align with a 9-to-5 schedule. We’re committed to ensuring that you receive prompt pre-approval service, enabling you to compete effectively in today’s dynamic property market.

A few documents we’ll likely need to review include:

Income / Assets:

  • W2’s – from the last two years
  • 1040 federal tax returns – from the last two years
  • Two recent pay stubs
  • Two recent bank statements – all pages
  • Self-Employed: K1 / 1099 / Profit and Loss YTD


  • Current and previous addresses for the previous 2 years
  • Leasing: name and phone number of landlord(s)
  • Investor: copy of lease agreements on rental properties


  • Copy of your driver’s license or state-issued ID for all borrowers

There may also be required documents we may need to review depending on your specific scenario.

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