A pre-approval tells you, your agent and the seller how much you can likely borrow, based on a review of your credit, income and assets. It takes a few minutes to start, and there’s no cost or obligation.
ID: driver’s license or other government ID
Income: last 30 days of pay stubs and two years of W-2s. Self-employed? Two years of tax returns, or 12–24 months of bank statements for a bank statement loan
Assets: two most recent months of bank and investment statements
Housing history: current landlord or mortgage information
Permission to pull credit
Don’t have everything? Start anyway. We’ll tell you exactly what’s missing.
A pre-qualification is a quick estimate based on what you tell us. A pre-approval is based on verified documents and a credit report, so sellers take it more seriously. A pre-approval is not a commitment to lend; final approval depends on the property, appraisal and underwriting.
Start online or call 248-825-3300.
A loan officer reviews your file, usually the same business day, and tells you which programs fit.
You get a pre-approval letter to shop with.
Under contract? We lock in your loan terms when you’re ready and send your Loan Estimate.
Underwriting to clear-to-close. Our 235 loans submitted between 7/13/25 and 7/13/26 averaged 11.5 business days from submission to clear-to-close. Your timeline depends on your file, appraisal and lender.
Getting pre-approved early is almost always worth it, with a couple of caveats.
Start now if one of these describes you.
You’re touring homes or about to.
You want to know early which documentation path works for you.
You want to know your DSCR or bridge buying power before you make offers.
You’re moving to Metro Detroit and need to act fast when you arrive.
Use the affordability calculator with the numbers you enter.
Results are estimates based on your inputs, not a loan offer.
Affordability CalculatorMonthly Payment CalculatorCalculator results are estimates, not loan offers. Contact Fadi for a personalized quote and Loan Estimate.
Want your exact numbers?
Send me your scenario — I'll run the numbers and get back to you, usually the same business day.
A mortgage credit check is a hard inquiry, which can lower your score slightly. Credit scoring models generally treat multiple mortgage inquiries within a short window as one, so you can compare lenders.
Usually 60 to 90 days, depending on the lender. We can update it if your search takes longer.
No. Final approval depends on the property, appraisal, title and full underwriting.
Yes. Depending on your situation, we may use tax returns or a bank statement program.
Avoid opening new credit, making large unexplained deposits, or changing jobs without talking to us first.
Start online, or call 248-825-3300 and talk to a licensed loan officer.
Call or text Fadi directly: 248-825-3300 fadi@bestrateloan.com
Mon-Fri 8am-6pm · Sat 9am-3pm · We aim to respond within 2 business hours
A few quick questions — most people finish in under a minute.
A licensed Best Rate Loan LLC loan officer will reach out, usually the same business day.
