Why get pre-approved?
- Know your budget: shop in the right price range with confidence.
- Rate protection: hold a rate for 90–120 days. If rates fall, you get the lower rate.
- Stronger offers: sellers and realtors take pre-approved buyers seriously.
- Spot issues early: fix credit or documentation gaps before they cost you a home.
Important: a pre-approval is not a final mortgage approval. The lender still has to approve the specific property (appraisal) and verify your documents after your offer is accepted.