Kansas City · Kansas & Missouri

Mortgage preapproval in Kansas City. Let's start with your goals.

Before we talk about paperwork, let's talk about the home you want and the payment you're comfortable with.

I'm Mike Baker, owner of The Rate Shop. My preapproval process includes reviewing your credit, income documents and asset statements to determine which home loan options fit your situation. You'll understand your estimated payment, the money you'll need and what comes next.

Schedule a call with Mike

Conversations are free. Prefer to call or text? Reach me at 913-213-3335.

Hi, I'm Mike.I've been originating mortgages since 2009. You'll work directly with me, and I'm available nights and weekends when questions come up.

Understand what has been reviewed

What is a mortgage preapproval?

A mortgage preapproval is a review of your finances to determine what you may qualify to borrow. If that review supports approval, I issue a preapproval letter you can use when making an offer on a home.

A quick prequalification

An initial estimate may rely on income and savings figures you provide, without a review of the documents behind them.

My preapproval review

I review your credit report, income documentation and asset statements before issuing your preapproval letter. I want to understand the details before you rely on those numbers.

Your goals come first

How we get you ready to make an offer.

First, we have a conversation.

We'll discuss your budget, timing, wants and needs. Maybe you know your comfortable monthly payment. Maybe you have a purchase price in mind. Either gives us a place to start.

If this is your first home, my guide to questions first-time homebuyers should ask can help you prepare.

Choose how we work together.

Prefer to work remotely? We can talk by phone, communicate by email and use secure online tools for your application and documents. My in-home concierge preapproval service is an optional added feature for buyers who prefer that approach. An in-home appointment is not required.

Then, I review the documents.

You'll complete a secure application and upload the documents needed for your situation. I review your credit and debts, along with:

Pay stubs and W-2s for employment income.
Tax returns for self-employed buyers.
Bank or other asset statements showing available funds.

Additional documents may be needed depending on how you earn income, the properties you own and your loan options. I'll explain what I need from you.

Once I have the documents needed

How long does preapproval take?

A straightforward W-2 employee

About 3 business hours

That's my typical review time once I have the information and documents needed.

A more complex financial picture

1–2 business days

Self-employment or owning multiple investment properties typically requires a more detailed review.

These are typical review times, not guaranteed approval deadlines. Missing documents or questions that need follow-up can add time. If you're working toward an offer deadline, tell me when we talk.

When you find a home

A preapproval letter and payment estimate for your specific offer.

If you're preapproved up to $400,000 but offering $375,000, I adjust your preapproval letter to the $375,000 offer. You don't need to show the seller your full approved budget.

I also update your estimated payment, down payment and closing figures for that particular home. I check current property-tax records and consider details such as an older roof when estimating insurance.

Current tax records are a starting point; future taxes and the actual insurance quote can differ. We'll keep the estimates clear as more information becomes available.

If you're also comparing lenders, my guide to shopping for a mortgage explains how to compare offers based on consistent assumptions, rates and fees.

Questions before you start

Preapproval questions, answered.

Does preapproval cost anything?

There is no upfront charge for my preapproval review or credit report. My business covers the report initially. If you close a loan through me, you'll pay the credit-report cost at closing, typically $100–$200. If you don't close a loan with me, I don't charge you for that report.

Will you use a soft or hard credit inquiry?

We can start with either, depending on your situation. I'll discuss the approach with you. A hard inquiry will be needed before full and final loan approval.

How long is my preapproval valid?

My preapproval is valid for 90 days. If you haven't found a home by then, we'll review what needs updating. Let me know about financial changes during that time, too.

What could affect my preapproval while I'm shopping?

New debt, missed payments or a change in how you're paid can affect your eligibility. Moving from a salary to commission income, for example, changes what I need to review. Check with me before making changes so we can discuss the effect on your homebuying plans.

Does preapproval guarantee final loan approval?

No. The lender still needs to complete underwriting, review the property and confirm that your finances continue to qualify. I'll help you understand the remaining steps before closing.

You don't need every answer before calling

Let's talk about the home you want to buy.

Schedule a call so we have time for your goals, budget and questions. Whether you're ready to make an offer or just figuring out where to start, we'll work out your next step together.