Get a documented Denver mortgage preapproval with clear payment, cash-to-close and loan-program assumptions before making an offer.
A preapproval should do more than generate a letter. It should establish a realistic payment and price range, identify documentation risks early and give your real estate agent a responsive financing partner when an offer is being prepared.
Reviewed by Matt Nockels · Founder and President · NMLS #279527 · Mortgage professional since 2003
Start with a conversation about your income, savings, timeline and credit concerns. When appropriate, we use a soft inquiry and Credit Analyzer to review your next steps, or refer you to a credit repair company that has helped our clients.
Model the temporary principal-and-interest payments and estimated subsidy, then compare the same credit against closing costs, a price reduction or permanent discount points.
Prequalification helps estimate what you may be able to borrow using the information you provide and an initial credit review. Preapproval adds a review of supporting financial documents before a letter is issued. Neither guarantees final loan approval. Here is how the two stages work at Impact Home Lending.
| Your question | Prequalification | Documented preapproval |
|---|---|---|
| What does it help me do? | Explore a possible budget and loan options. | Prepare to make an offer with a letter supported by a reviewed file. |
| What do you review? | Two years of residential and employment history, income and asset information, and a soft credit report. | Supporting records such as pay stubs, W-2s and bank statements, tailored to your situation. |
| What happens to my credit? | Our soft pull does not affect your credit score. | Credit requirements depend on the lender and loan program. Additional authorization or review may be needed as the loan progresses. |
| How long does it take? | About 10 minutes to provide information by phone or emailed secure link after our initial call. | Typically within 24 hours after we receive a complete, straightforward file. Questions, missing documents or lender underwriting can take longer. |
| Is the loan guaranteed? | No. This is an initial assessment. | No. Property requirements, final underwriting and updated borrower information still apply. |
Lenders may use these terms differently. Ask what has actually been reviewed and what conditions remain. Our website questionnaire starts a conversation; completing it does not mean you are prequalified or preapproved.
Start with our short website questionnaire in about two minutes, with no credit pull. After an initial call, share two years of residential and employment history plus income and asset information by phone or through an emailed secure link.
That prequalification usually takes about 10 minutes and includes a soft credit pull that does not affect your score. It gives us a starting point for discussing possible loan options.
After reviewing loan options with Matt, you decide whether to proceed. We send a tailored request for pay stubs, W-2s, bank statements or other records needed for your file. Courtney reviews the documents, income, assets and credit before a preapproval letter is issued.
We typically issue the letter within 24 hours after receiving a complete, straightforward file. Missing items, questions or lender TBD underwriting can take longer. Preapproval is not a guarantee of final loan approval.
Matt typically spends about 45 minutes with first-time buyers and about 30 minutes with experienced homeowners comparing payments, cash to close and eligible loan options in mortgage-planning software. You can decide whether to work with us after that conversation, with no obligation.
After your loan-options meeting, you decide whether to move forward. We then send a document list based on your income, assets and selected financing path. Common requests include:
You do not need to guess which documents apply. Your tailored list explains what we need before Courtney completes the review.
If you are exploring affordability, start with prequalification and a discussion of the numbers. If you are preparing to make an offer, allow time for the documented preapproval review. When questions need a lender's decision, we may request TBD underwriting before you are under contract, where available.
A preapproval does not finish the loan process. The home, appraisal, title, insurance and remaining conditions must qualify, and changes to your income, debts, assets or credit may require another review.
Start my mortgage planShort questionnaire · No credit pull for this step · No obligation
Courtney, our customer service manager and licensed loan officer, is highly experienced at reviewing income, assets, credit and documentation before a buyer makes an offer. Our goal is to identify potential issues early and issue a well-supported preapproval—not simply generate a letter from information entered online.
When a file needs additional certainty, we may submit it to an appropriate lender for a to-be-determined-property (TBD) underwriting review before the buyer is under contract. This can be especially valuable for self-employed borrowers, variable income, employment changes, complex assets or other situations requiring closer review.
A preapproval or TBD underwriting review is not a guarantee of final loan approval. The selected property, appraisal, title, insurance, loan conditions and updated borrower information must still meet applicable requirements.
During the loan review, Matt walks buyers through the purchase process and the deadlines that can affect financing. Your contract, property and loan program control the exact timing, but this is the general path from accepted offer to closing.
Send the signed contract promptly, confirm the financing dates and deliver earnest money according to the contract. Impact coordinates with you and your real estate agent on the loan structure and next steps.
Complete the property inspection and review applicable disclosures. Begin obtaining homeowners insurance early so coverage or property questions do not appear at the end of the process.
The lender reviews the borrower, property and loan documents. The appraisal supports the lender's collateral review; it is separate from the home inspection and is not a guarantee of condition or value.
Respond quickly to requests for updated documents, explanations or property items. Avoid new credit, large unverified deposits or employment changes without discussing them with the loan team first.
Review the final loan terms and cash needed to close. Follow verified wiring instructions from the title company and independently confirm them before sending funds.
Sign the closing documents and complete any remaining funding requirements. Ownership and key delivery follow the contract, title and closing instructions.
Clear milestones · Personalized loan review · A team your agent can reach
This timeline is educational and does not replace your purchase contract, legal advice, title instructions or current lender requirements. Deadlines and responsibilities vary by transaction.
A preapproval is based on a snapshot of your finances, interest-rate assumptions and the type of home you expect to buy. If the search takes time—or the price, rate, taxes, insurance, HOA dues or seller-credit strategy changes—the original letter may no longer reflect the payment and cash you are comfortable with.
Share material changes to employment, income, debts, assets, credit or down-payment funds before relying on the earlier review.
Update the rate assumption, taxes, insurance, HOA dues, mortgage insurance and seller credits for the homes you are considering.
Confirm the loan structure and cash-to-close estimate, then coordinate an appropriate preapproval letter with your real estate agent.
No credit pull for the first step · About 2 minutes · No obligation
Start with a short website questionnaire that takes about two minutes and does not pull credit.
Compare payment, cash-to-close and loan options with Matt before deciding whether to move forward.
Courtney reviews the supporting documents and escalates questions for lender TBD underwriting when appropriate and available.
A Denver buyer targeting $550,000 may receive very different payment and cash-to-close results at 3%, 5% and 10% down. Reviewing those structures before a showing makes the offer price, reserves and seller-concession strategy more deliberate.
Illustration only. Program availability and approval depend on current guidelines, borrower qualifications and property eligibility.
“A preapproval should answer the buyer's questions before it tries to impress a seller. Courtney is exceptional at reviewing files upfront. When we see a concern, we can ask an appropriate lender to underwrite the borrower as a TBD before the buyer is under contract.”
Matt Nockels · Founder and President · NMLS #279527 · Mortgage professional since 2003
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Read the answer →Prequalification is an early conversation based on your two-year residence and employment history, income, assets and a soft credit pull. It helps us compare possible loan options, but it is not a documented approval. For preapproval, we request and review supporting records such as pay stubs, W-2s and bank statements, and Courtney reviews the complete file before a letter is issued. We typically issue a preapproval within 24 hours of receiving a complete, straightforward file; questions, missing documents or lender TBD underwriting may take longer. Final loan approval still depends on the property and full underwriting.
Yes. Impact reviews income, assets, credit and documentation before issuing a preapproval. When a file needs additional certainty, we may submit it to an appropriate lender for a to-be-determined-property, or TBD, underwriting review before the buyer is under contract. Availability and requirements vary by lender and loan program.
Yes. A preapproval can become less reliable when rates, debts, income, assets, credit, loan guidelines or the target property change. Tell us about material changes and ask for an updated payment, cash-to-close estimate and letter before relying on the original preapproval for an offer. Additional documents or credit authorization may be required.
Impact typically issues the preapproval within 24 hours after receiving a complete, straightforward file. Missing documents, income questions, assistance funds, self-employment, complex assets or a lender TBD review can require additional time.
The approximately 10-minute prequalification collects two years of residential and employment history plus income and asset information. It can be completed by phone or through a secure link that Impact emails to the borrower.
No. The first website questionnaire does not pull credit. The later prequalification uses a soft credit pull that does not affect the borrower's credit score. Additional authorization or credit review may be required as the transaction progresses.
No. A preapproval or TBD underwriting review is not a guarantee of final approval. The selected property, appraisal, title, insurance, loan conditions, updated borrower information and no material adverse changes must still meet applicable requirements.
Begin before you seriously shop so there is time to compare programs, gather documents and address issues without a contract deadline.