Joe DownsCEO & Co-Founder, Belrose Storage Group. Founder, Storage Moguls.

Pre Approval The Gold Standard Explained

14 Feb 2026 · 1 min

Watch on YouTube

0:37

Joe Downs explains mortgage preapproval, the gold standard for home buyers. It requires verified documents and a hard credit pull. Not every lender offers it, so you should contact 3 to 5 banks or use a mortgage broker to find the best terms.

Chapters

Preapproval, that's the gold standard. It involves a full review of your verified documents and a hard credit pull. Lenders confirming they will lend you money up to a specific amount. Now, not every lender will give you one, though, so they may or may not factor, or that may or may not factor in your decision on who to use. All right. Now that we know the difference, let's walk through the actual process of getting that preapproval. Because the process starts with contacting lenders. Should probably reach out to 3 to 5 banks or a mortgage broker who'll do that for you to shop the best terms.