Why Get Pre-Approved?
1. Pre-approval gives sellers confidence that when they receive an offer to purchase their home from you, that it will likely be completed based upon your loan application. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only a few hours, and is free.
2. These days most sellers will NOT accept an offer without a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.
If you don't have a mortgage professional, I can refer you to loan officers I've worked with previously.