What Is a Mortgage Pre-Approval and Why It Matters to Home Buyers
What Is a Mortgage Pre-Approval and Why It Matters to Home Buyers
What Is a Mortgage Pre-Approval?
A mortgage pre-approval is a lender’s written estimate of how much you can borrow based on your income, credit, and financial history. It shows sellers you’re a serious, qualified buyer and helps you shop within your true budget.
Why I Ask for a Pre-Approval Letter Before Showing You Homes
Let’s be real—looking at homes is fun. But there’s a big difference between being ready to buy and just window shopping. And as your real estate guide, I always want to help you spend your time (and energy) wisely. That’s where the pre-approval letter comes in. Here are five key reasons I—and most experienced agents—ask for it upfront.
1. You’re Actually Qualified (Not Just Hopeful)
Not every buyer who fills out a mortgage application gets approved. Surprised? It happens more than you think. Some buyers are approved—but for much less than they expected.
Lenders today don’t hand out loans like they did 15 years ago. The paperwork and requirements are much more rigorous. But here’s the upside: when you’re pre-approved, you’ve already cleared a major hurdle. You can confidently move forward—book inspections, schedule appraisals—knowing you’re in a strong position. If you have questions, reach out to our Lender Team to get you started.
2. You Know What You Can Actually Afford
Just because a lender says “You’re approved for $1 million” doesn’t mean you should spend $1 million. Pre-approval isn’t just about what you can buy—it’s about what fits your lifestyle and monthly budget.
A good lender will walk you through all the details: property taxes, insurance, HOA dues, and other costs that aren’t showing up in your Zillow calculator. That way, you’re not surprised later—and you can avoid falling in love with a home that’s just out of reach.
3. You Can Write a Strong, Realistic Offer
When you’re ready to make an offer, you need to know your financing terms:
- What type of loan are you using?
- How much are you putting down?
- Will you need seller-paid closing costs?
- How quickly can you close?
You can’t answer those questions without a pre-approval letter. Even if you know you’ll qualify, the seller doesn’t. They want proof. And trust me—when the competition heats up, having all your ducks in a row gives your offer an edge.
4. Sellers Don’t Want Looky-Loos
Think about it from a seller’s point of view. They’ve cleaned, staged, packed up pets, and maybe even taken the kids out—all so a potential buyer can come through. So understandably, they (and their listing agents) want to make sure anyone walking through their door is financially serious.
In fact, some sellers in today’s market won’t even allow a showing without a pre-approval. It’s not personal. It’s about time and effort—for all of us.
5. It Shows Commitment
Unless you’re buying a For Sale By Owner, you’ll be working with a real estate agent to see properties. As your agent, I dedicate time, resources, and expertise to help you find the right home. A pre-approval letter tells me you’re just as committed to the process as I am to helping you.
It also tells me you’re ready—not just curious. Sure, life happens, and things change, but starting out with a solid foundation helps me help you better. And if you’re already working with another agent, that’s totally fine—just be upfront. Respect and transparency go a long way in this business.
Final Thoughts
Looking at homes before getting pre-approved is like ordering off the menu without checking your wallet. Sure, you can dream—but you risk disappointment. Knowing what you can afford up front makes everything smoother: your search is focused, your offers are stronger, and your chances of getting the home you want? Much higher.
So before we start touring homes in Midtown, Buckhead, or anywhere in Atlanta—let’s talk about pre-approval. I’ll even connect you with a few trusted lenders if you’re not sure where to start.
Let’s make this journey a smart one from the start. 🏡
