A mortgage pre-approval is a written estimate of how much you can borrow, based on verified income, assets, and credit. It does not have to cost you a hard inquiry. Duane Buziak (NMLS #1110647) walks through each step, shows what a small rate gap costs in real dollars, and explains how NoTouch Credit Pull works. NoTouch Credit Pull is a soft-pull pre-approval: your credit is reviewed without a hard inquiry being recorded on your report, so other creditors do not see it. A soft credit pull mortgage review lets you compare offers in VA, FL, TN, GA, DC, NC, SC, and MD before any inquiry touches your score. This mortgage pre approval process explained covers the steps, the costs, and the credit impact.
What Are the Steps in the Mortgage Pre-Approval Process?
Five steps take you from choosing a broker to holding a pre-approval letter, often within one to three business days once your documents are in. Timing varies by company and by how clean your file is.
- Gather documents. Expect to provide recent pay stubs, W-2s or tax returns, two or more months of bank statements, and a government ID.
- Complete the application. This covers your employment history, assets, debts, and the price range you have in mind.
- Credit review. Your credit report and scores are pulled and checked against program minimums.
- Underwriting review. Someone verifies your income, assets, and debt-to-income ratio (DTI), which is your monthly debt payments divided by your gross monthly income.
- Letter issued. The pre-approval letter states a loan amount, a loan program, and an expiration date.
The result is usually a conditional approval. That means the approval holds if listed conditions are met, such as an acceptable appraisal, a clear title, and no change in your finances. It is not the same as a loan estimate, the standardized cost disclosure you receive after you apply for a specific property, which spells out the rate, payment, and closing costs.
Self-employed borrowers are a common variation. Many programs ask for two years of tax returns, though some borrowers qualify through bank-statement programs that use deposits instead. Which route fits depends on the file, and neither is a guarantee.
Is Pre-Approval the Same as Pre-Qualification?
No. Pre-qualification is a quick estimate built on numbers you report yourself, while pre-approval involves document verification and a credit review.
The difference matters most when you make an offer. A listing agent knows a pre-qualification letter may rest on nothing more than a phone conversation, so it carries little weight against a competing offer. A pre-approval shows that someone has looked at your pay stubs, bank statements, and credit.
- Pre-qualification requires: self-reported income, debts, and assets, sometimes with no credit check at all. It proves only that your numbers look plausible.
- Pre-approval requires: documents, a credit review, and an underwriting look at DTI. It proves your file has been checked against a real program.
Neither one is a final loan commitment. An approval can change before closing if your income drops, you take on new debt, your credit score falls, or the appraisal comes in below the purchase price. Avoid new car loans, store cards, and job changes between pre-approval and closing.
Does Mortgage Pre-Approval Hurt Your Credit Score?
A standard pre-approval usually triggers a hard inquiry, which can lower a score by a small amount. A soft pull does not.
A hard pull is recorded on your credit report and visible to other lenders. A soft pull is a review that you can see but others cannot, and it carries no scoring effect. NoTouch Credit Pull is Duane Buziak’s soft-pull pre-approval: it reviews your credit without a hard inquiry, so you get a no hard inquiry mortgage pre approval to start from. Because this is a mortgage pre approval without hard pull, a rate check does not count against you, and you can treat it as a no credit hit mortgage application at the shopping stage.
A soft pull is not permanent. Before closing, a hard credit pull is still required to underwrite the loan. The benefit is sequencing: as a soft pull mortgage broker, Duane Buziak lets you compare programs and pricing first, then commit to one hard inquiry only for the option you actually choose.
Rate shopping with hard pulls is not as damaging as many borrowers fear. The Consumer Financial Protection Bureau explains that multiple mortgage inquiries made within a short window are generally treated as one for scoring purposes. The length of that window depends on the scoring model, so do not assume you have a full month. Starting with a soft pull simply removes the question.
What Does a 0.375% Rate Difference Cost You Over 30 Years?
On a $400,000 loan, the gap between 6.50% and 6.875% fixed is about $99 per month and roughly $35,800 over 30 years. These rates are illustrations, not current quotes.
The principal-and-interest math, before taxes and insurance:
- 6.50% for 30 years: about $2,528 per month, or about $910,200 paid in total.
- 6.875% for 30 years: about $2,628 per month, or about $946,000 paid in total.
- Difference: about $99 per month, about $35,800 over the full term.
To check a real market benchmark, see the weekly figure in the Freddie Mac Primary Mortgage Market Survey. It reports the average 30-year fixed rate each week and is updated regularly, so look up the current number and its date rather than relying on one printed here. Your own quote will differ from that average based on credit score, down payment, loan type, and property.
Pre-approval is where your first rate quote usually appears, and many buyers anchor to it. A quote from the first company you contact is one offer, not the market rate. Comparing at this stage, before you are attached to a house and a deadline, is when a 0.375% gap is easiest to capture. Rates and terms change, so any figure is only as current as its date.
Why Does Shopping Through a Broker Change Your Pre-Approval Offer?
A broker can compare many wholesale lenders on one file, while a single retail company can only offer its own products and pricing. That is a structural difference, not a guarantee of a lower rate on every file.
Duane Buziak shops 500+ wholesale lenders per file. His Dare to Compare challenge is simple: bring any written quote, and he will compare it against wholesale pricing for your scenario.
Breadth of programs matters as much as rate when your profile is not standard. Programs a single company may not offer include:
- FHA and USDA loans
- VA loans, including options for lower credit scores (Duane’s program notes cite down to 500 FICO, but individual lenders apply their own overlays, so confirm for your file)
- DSCR loans for investors, who qualify on rental income
- Bank-statement and other Non-QM programs
- Physician loans, offered through multiple lenders
Loan size changes your options too. For 2026, the Federal Housing Finance Agency set the conforming loan limit at $806,500 for most counties and $1,249,125 in high-cost areas. Loans above the applicable limit are jumbo loans, which are priced and underwritten differently.
Mortgage rates vary with the market and the borrower, so the only way to know what a wholesale comparison finds for you is to run one. A soft credit pull mortgage review makes that possible without a hard inquiry first.
Is LowerMortgageRates the Same as Lower.com?
No. LowerMortgageRates.com is the site of Duane Buziak (Mortgage Maestro) of Coast2Coast Mortgage LLC (NMLS #376205), a mortgage broker. It is unaffiliated with Lower.com.
The names are similar, so the confusion is understandable, but the business models differ. A broker compares offers from many wholesale lenders and places your loan with the one that fits. A direct lender offers loans under its own name, using its own products and underwriting.
Verify any loan officer before you share personal information. Every licensed mortgage professional has an NMLS number, and you can look it up for free at nmlsconsumeraccess.org. The record shows licensed states, employment history, and any regulatory actions. Duane Buziak’s number is #1110647, and Coast2Coast Mortgage LLC’s is #376205.
How Do a Broker, Rocket Mortgage, and Movement Mortgage Differ on Pre-Approval?
The main difference is structure: a broker compares many wholesale lenders, while Rocket Mortgage and Movement Mortgage are retail direct lenders that originate their own products. The table below states structure only, with details as of October 2026. Confirm each company’s current credit-pull practice and product list directly before applying, since those can change.
| Factor | Duane Buziak (broker) | Rocket Mortgage | Movement Mortgage |
|---|---|---|---|
| Business model | Mortgage broker (Coast2Coast Mortgage LLC) | Retail direct lender | Retail direct lender |
| Lenders compared per file | 500+ wholesale lenders | Its own loan products | Its own loan products |
| Credit pull at pre-approval | NoTouch Credit Pull (soft pull) available | Confirm with the company | Confirm with the company |
| Program range | FHA, VA, USDA, conventional, DSCR, bank statement, Non-QM, physician loans | Its own product menu; confirm current list | Its own product menu; confirm current list |
| Who sets the rate | The wholesale lender chosen for your file | The company itself | The company itself |
What the table does not show is your rate. Actual pricing depends on your credit, down payment, loan type, property, and the day you lock. Only quotes on your own file tell you who is cheaper.
What Are the 10 Most Common Pre-Approval Questions?
How long does a pre-approval last?
Commonly 60 to 90 days, though it varies by company. Expired letters usually need refreshed documents and credit.
How much does a pre-approval cost?
Many pre-approvals carry no fee. Some companies charge for an appraisal or credit report later, so ask before you apply.
What is the minimum credit score?
It depends on the program. FHA and VA allow lower scores than conventional loans, and individual lenders may add their own minimums.
What documents do I need?
Pay stubs, W-2s or tax returns, bank statements, and a government ID. Self-employed borrowers typically add business returns.
Can I be denied after pre-approval?
Yes. A change in income, debts, credit, or the appraisal can reduce or cancel the approval before closing.
Does pre-approval lock my rate?
No. A rate lock is a separate step, usually made once you have a property under contract.
Can self-employed borrowers get pre-approved?
Yes. Two years of tax returns is the standard path, and bank-statement programs may fit if your tax returns understate your income.
Is there a soft pull option?
Yes. A soft pull mortgage broker like Duane Buziak can start with NoTouch Credit Pull, so your first review leaves no inquiry on your report.
What can void a pre-approval?
New debt, a job change, missed payments, large unexplained deposits, or a low appraisal.
How many companies should I compare?
At least three written quotes is a common rule of thumb. A broker can compare many wholesale lenders from a single application.
Compare Real Offers Before Any Hard Inquiry Touches Your Score
A soft-pull pre-approval lets you see real offers first and take a hard inquiry only for the one you choose. Compare with the dollars in mind: on the $400,000 example above, a 0.375% gap is worth about $35,800 over the loan.
Don’t let uncertainty about mortgage rates cost you thousands. Discover your personalized options with a trusted mortgage professional who can compare rates across multiple lenders without impacting your credit score. Schedule your free consultation today and take the first step toward securing the best mortgage solution for your unique financial goals. Call 804-212-8663 or start a NoTouch Credit Pull with Duane Buziak, NMLS #1110647 | Coast2Coast Mortgage LLC, NMLS #376205. Licensed in VA, FL, TN, GA, DC, NC, SC, and MD only.