Ohio Pre-Approval Playbook

The pre-approval letter is the seller's first filter

In Columbus, homes are going under contract in roughly 40 days. When two offers arrive the same day, the one without a pre-approval letter gets set aside before anyone reads the price.

This playbook gives you what to believe, what to gather, when to move and what to avoid, so your offer is never the one that gets filtered out. A pre-approval is a lender's written, conditional commitment based on verified documents and a hard credit pull. It is usually issued within one to three business days of a complete file and stays valid for 60 to 90 days.

Five myths that cost buyers offers

One more myth worth killing: shopping lenders will wreck your credit. Multiple mortgage inquiries within a 45-day window are treated by the credit bureaus as a single event.

Your prep checklist

Get these into one folder before you call a lender. Tick them off as you go.

• Valid government photo ID (driver's license, passport or state ID)

• Pay stubs from the last 30 days

• W-2s from the past two years

• Federal tax returns from the past two years, all schedules included

• Two to three months of bank statements: checking, savings and investments

• Gift letter signed by the giver, if family is helping with your down payment

• Two years of business returns, a year-to-date profit-and-loss statement and a CPA letter if requested, if you're self-employed

• A rough list of your monthly debt payments, so you know your debt-to-income ratio before the lender does

Lenders also like to see at least two years of stable employment. A recent job change doesn't disqualify you, but it adds steps.

When to do what

1. Six to twelve months out: talk to a lender, not to get a letter, but to learn where you stand. A fixable credit issue or a slightly high DTI is easy to solve with time.

2. 30 to 90 days before you expect to offer: get the actual pre-approval. Submit Form 1003 and your documents, and allow one to three business days for the letter.

3. While house hunting: if the letter expires after 60 to 90 days, ask your lender to refresh it with updated pay stubs and bank statements. That is much faster than starting over.

4. Offer day: attach the letter. Sellers and listing agents check it first.

5. Contract to closing: hold your finances steady while appraisal and underwriting run, and expect a credit refresh before funding.

The freeze list: after you're pre-approved, don't

The loan is based on your finances on the day you applied. Any of these can undo it, sometimes days before closing:

• Open new debt: a car loan, a credit card or financed furniture. One $450 monthly payment has killed a loan two weeks from closing.

• Change jobs: especially from salary to commission. If it can't be avoided, tell your loan officer right away.

• Miss a payment: lenders refresh your credit before funding.

• Move money around: large unexplained deposits need a paper trail.

• Ignore the property: a low appraisal or serious inspection issues can force the terms to change.

The simple version: no new accounts, no new debt, no job moves and no large cash deposits until you have the keys.

Your next step

Whether you're a month from buying or nine months out, start with a conversation. Ryan and Chris at Ruoff Mortgage have closed more than 3,700 loans in Ohio. They'll look at your full picture first and tell you what you actually qualify for, not the biggest number a system will print. No fee, no pressure, no commitment.

Call or text 614-767-5273.

Want the complete walkthrough, including income ranges and FAQs? Read How to Get Pre-Approved for a Home Loan in Ohio.