09/04/2026
A preapproval is not a promise. It is a lender's assessment of what you can realistically borrow, based on your income, credit, and assets. Sellers take preapproved buyers seriously because it shows you're ready to move. Skipping this step can slow down an offer right when speed matters most. Getting preapproved early gives you a clearer picture before you start touring homes.
Save this for when you're ready to start looking.