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Lenders may ask for: A full month's of pay stubs. Two years' worth of W-2s. Two years' worth of tax returns (if you're self-employed) Two months' worth of bank statements. Explanations for any late payments, collections or other negative credit items. Documentation of child support, alimony or retirement income.
There really is no limit to the number of times you can get preapproved. In a buyer's market, when there are more homes for sale than buyers who want them, many house hunters find their perfect home within weeks or a few months. And they find it easy to get their offers accepted. So renewals are required less often.
There's not a lot of difference between a prequalification letter and a preapproval letter. While there are some legal distinctions, in practice both terms refer to a letter from a lender that says the lender is generally willing to lend to you, up to a certain amount and based on certain assumptions.
Preapproval letters can make a difference in getting your home purchase offer accepted, but you have to avoid key mistakes. Be sure you submit a preapproval letter for the exact amount of your offer from a known lender, clearly demonstrating your qualifications.
So the question is: Can you make an offer on a house before you've even been pre-approved for a mortgage? Yes. There is nothing stopping you doing this, legally speaking. Anyone can make an offer to buy a house that is listed for sale.
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People also ask

When a credit card offer mentions that you're pre-qualified or pre-approved, it typically means you meet the initial criteria required to become a cardholder. But you still need to apply and get approved. Think of these offers as invitations to start the actual application process.
A pre-qualification means that the mortgage lender has reviewed the financial information you have provided and believes you will qualify for a loan. Pre-approval is the second step in the loan process, which is a conditional commitment to loan you the money for a mortgage.
You can get a prequalification letter in many cases with just your basic financial information. Typically, you'll need to provide the lender with your monthly income, a ballpark estimate of your monthly debts and your best guess at how much money you'll have for a down payment and closing costs.
Anyone can make an offer, pre-approval letter or no. But your offer is likely to be taken much more seriously by the seller and real estate agent if you have one. Indeed, the seller might accept a lower offer with a pre-approval letter than from someone with only a pre-qualification letter or no letter at all.
There really is no limit to the number of times you can get preapproved. In a buyer's market, when there are more homes for sale than buyers who want them, many house hunters find their perfect home within weeks or a few months. And they find it easy to get their offers accepted. So renewals are required less often.

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