Buying in Leander and want to make a strong first offer? A clean mortgage pre-approval can be the difference between getting the home and missing out. You want clarity on what to bring, how long letters last, and how local costs like taxes and insurance affect your budget. This guide gives you a simple, step-by-step checklist plus local tips that help you avoid delays and surprises. Let’s dive in.
What pre-approval means
A mortgage pre-approval is a lender’s written indication that you qualify for a loan up to a certain amount, subject to final verification and property conditions. It is stronger than an informal pre-qualification and is commonly requested with offers. The Consumer Financial Protection Bureau explains how pre-approvals work and why sellers value them in its guide to getting a preapproval letter.
Timing, validity, and credit pulls
Most pre-approval letters are valid for 30 to 90 days. If yours expires, you will refresh documents and may need a new credit check. See a quick overview of typical windows in this validity guide.
Ask your lender if they use a soft credit pull for early review or a hard pull for formal pre-approval. A hard inquiry can lower your score a few points, but multiple mortgage inquiries within a short rate-shopping window are usually treated as one. Learn how soft vs. hard inquiries work in this credit inquiry explainer.
Your Leander pre-approval checklist
Below is the core document list most lenders request. Confirm your lender’s exact list, since loan types can vary.
IDs and basics
- Government-issued photo ID. Bring your driver’s license or passport.
- Social Security number or ITIN. Lenders need this to verify identity and pull credit.
- Organized PDFs. Create clear scans of each document before you upload.
For an overview of what to gather, see the CFPB’s guidance on collecting and updating your paperwork.
Income documents
- Most recent pay stubs covering 30 to 60 days.
- W-2s for the last two years.
- Federal tax returns for the last two years, especially if you earn bonuses, commission, or 1099 income.
- If self-employed or a contractor: two years of personal and business returns, year-to-date profit and loss, and 1099s.
Assets and reserves
- Bank statements for the last 1 to 2 months for all accounts you will use.
- Retirement or investment account statements if using funds for reserves or down payment.
- Proof of source for any large deposits that are not typical for your account.
Debt and credit items
- Statements for car, student, and personal loans.
- Mortgage statements for any properties you own.
- Documentation for child support or alimony if it affects your application.
- Explanations for collections, judgments, or prior credit events, with supporting documents.
Property costs to share
- The property address or target neighborhood. Lenders need this to produce a Loan Estimate.
- Estimated property taxes and HOA/POA dues. City, county, and school district taxes are a major part of the monthly payment. The City of Leander’s adopted FY2025 rate is posted on the Budget and Tax Rate page. For parcel-level estimates, check the county appraisal search, such as Williamson CAD.
- Flood zone status. If a property is in a Special Flood Hazard Area, lenders require flood insurance. The Upper Brushy Creek WCID explains regional flood control and links to mapping tools on its programs page.
Other common items
- Homeowner’s insurance quote or agent contact.
- Gift funds: a signed gift letter and documentation of the donor’s source, if applicable.
Special situations
- Recent job change: provide your offer letter with salary, start date, and employer contact.
- Self-employed or 1099: expect extra verification and a two-year income history.
- Bankruptcy, foreclosure, or short sale: waiting periods vary by loan type. Ask your lender to confirm timelines for your scenario.
- Co-borrowers: all borrowers provide full income, asset, and credit documentation.
Loan options and Texas assistance
Understanding common loan types helps you choose the best fit for your budget and goals.
Conventional loans
Many lenders look for a minimum FICO near 620 for conforming loans, with stronger credit often getting better pricing. Underwriting can be stricter on debt-to-income ratios and reserves.
FHA loans
FHA can allow 3.5 percent down with credit scores around 580. Scores between 500 and 579 generally require a larger down payment. FHA loans require mortgage insurance.
VA loans
Eligible veterans and service members can often buy with no down payment. The VA does not set one universal minimum score; lenders set their own.
USDA loans
USDA guaranteed loans can allow 0 percent down for eligible properties within mapped areas, and they have income limits. Learn about Single Family Housing programs and check property eligibility with your lender using the USDA’s programs overview.
Texas down payment help
- TDHCA: The Texas Homebuyer Program offers 30-year fixed-rate loans with up to 5 percent assistance for down payment or closing costs through approved lenders. See updates on the TDHCA program news page.
- TSAHC: Homes for Texas Heroes and Home Sweet Texas provide down payment assistance and Mortgage Credit Certificates for eligible buyers through participating lenders. Review options on TSAHC’s home buyer programs page.
Tell your lender up front if you plan to use TDHCA or TSAHC so they can structure your file correctly and enroll you in the program.
Step-by-step plan
- Before contacting lenders
- Pull your free credit reports and fix obvious errors.
- Gather ID, SSN, 30–60 days of pay stubs, two years of W-2s and tax returns, and 1–2 months of bank statements as PDFs.
- Note the property address or ZIP you are targeting and estimate taxes, HOA dues, and potential flood insurance needs.
- When you talk to lenders
- Ask if they will do a soft or hard pull for pre-approval.
- Ask how long their letter stays valid and what is needed to refresh it.
- Once you choose a lender, request a Loan Estimate and compare at least two or three.
- Before you make an offer
- Refresh an expired letter and confirm nothing material changed in your finances.
- Confirm property-level taxes and flood status so your monthly payment estimate is accurate.
Local cost factors that affect approval
- Property taxes. Leander buyers pay city, county, school district, community college, and sometimes special district taxes. City rates are posted on the Leander Budget and Tax Rate page. School district taxes are a significant share of your escrowed payment.
- Flood risk. If the home is in a special flood zone, lenders require flood insurance, which increases monthly costs. Learn about regional flood control and where to check maps at the Upper Brushy Creek WCID’s programs page.
- County and appraisal district. Leander spans Williamson and Travis counties. Verify the parcel’s county and tax entities using the appraisal district search, for example Williamson CAD.
Buying in Leander should feel organized, not overwhelming. If you want a clean document checklist, local tax and flood guidance, or introductions to trusted lenders, reach out. I am here to help you get move-in ready with less stress. Connect with John Perez to get started today.
FAQs
What is a mortgage pre-approval and why do sellers ask for it?
- A pre-approval is a lender’s conditional statement that you qualify up to a set amount, which strengthens your offer; see the CFPB’s overview of preapproval letters.
How long does a pre-approval last in Texas?
- Most lenders set 30 to 90 days, after which you refresh documents and credit; see this quick validity guide and confirm your lender’s policy.
Does getting pre-approved hurt my credit score?
- A hard inquiry may lower your score a few points temporarily, but multiple mortgage inquiries within a short window are usually counted as one; learn more about soft vs. hard pulls.
What documents do I need for pre-approval?
- Expect ID, SSN, recent pay stubs, two years of W-2s and tax returns, recent bank statements, and any debt statements; the CFPB’s paperwork guide lists common items.
Can I get pre-approved if I am self-employed or a contractor?
- Yes, but you will provide two years of tax returns, year-to-date profit and loss, and possibly 1099s; lenders verify income stability for irregular earnings.
How do Texas assistance programs work with my loan?
- TDHCA and TSAHC offer down payment help and, in some cases, Mortgage Credit Certificates through approved lenders; see TDHCA and TSAHC programs and tell your lender you plan to apply.
