Lenders aren't required to give you a mortgage just because you're pre-approved. Lenders may deny you if your financial ...

A pre-approval letter also states the type of home loan you’re taking out. It will outline the terms of the mortgage, like the potential interest rate , repayment period, and estimated monthly ...

In the pre-approval process, the lender will likely ask for pay stubs, W-2 statements, and signed tax documents from previous years. This may take a week or longer, depending on the lender.