MortgageAbs

Mortgage pre-approval is a process where a lender evaluates your financial situation (income, credit score, debts) to determine how much you can borrow for a home. It gives you a clearer idea of your budget and shows sellers that you’re a serious buyer, which can help secure the best mortgage rates. The pre-approval process is a crucial first step in buying a home, as it helps streamline the process and ensures you’re ready to make an offer. Pre-approval can also give you an edge in a competitive housing market by showing your financial stability and commitment.