🔑 Why a Pre-Approval Letter is Better

1. Shows You’re a Serious Buyer

A pre-approval letter proves to sellers and real estate agents that you’ve already taken steps with a lender. It shows you’re financially capable of making an offer and ready to move quickly.

2. Strengthens Your Offer

In multiple-offer situations, buyers with pre-approval letters are often prioritized because sellers see them as less risky. It can make the difference between winning and losing a bidding war.

3. Helps You Understand Your Budget

Pre-approval gives you a realistic price range based on your actual income, credit, and debt. This helps you shop smart and avoid falling in love with homes you can’t afford.

4. Speeds Up the Buying Process

Since the lender has already reviewed your financials, the final loan approval process is typically faster and smoother once you’re under contract.

5. Identifies Potential Financial Issues Early

Getting pre-approved can uncover issues—like credit problems or document gaps—before you’re deep into the buying process, giving you time to fix them.