Getting pre-approved is one of the most important steps in the mortgage process. With a pre-approval letter you may know how much home you can afford.
Pre-approval allows you to go into the search for your new home prepared and knowing exactly how much you are able to afford.
You are more likely to get a home purchase offer accepted because sellers will typically want proof of pre-approval.
A 5-step sequence of everything you should consider for getting pre-approved on your mortgage loan and before you start searching for homes.