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A lender's conditional commitment to loan you a specific amount, based on a review of your finances.
A mortgage pre-approval is a lender's written estimate of how much they will lend you after reviewing your income, debts, and credit. It is stronger than a pre-qualification and signals to sellers that you are a serious, credible buyer. The rate-shopping inquiries behind it count as a single hard inquiry if done within a short window.
A pre-approval letter strengthens your offer in a competitive housing market.
Educational disclaimer: All content on WealthSerene.com is for educational purposes only and does not constitute investment advice. Projections and calculations are illustrative — actual results will vary based on market conditions, your specific situation, and many factors outside this tool’s scope. Always consult a qualified financial professional for advice specific to your situation. View full disclosures →