Pre-approval requires a more extensive look into your personal finances than pre-qualification, typically including a hard credit check and requesting proof of income.

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This letter can be shown to home sellers so ... The primary reason for getting a mortgage pre-approval is to set a realistic home buying budget. If you don't get pre-approved by a lender, you ...

A mortgage preapproval shows what you may qualify for based on an initial review of your finances. You'll usually need a preapproval letter to ... You can't get fully approved for a mortgage ...

Also, consider getting pre-approved for a mortgage. This process involves having ... The institution will provide you with a letter estimating how much you can borrow. This letter lets sellers ...

A pre-approval letter is not a guarantee that you’ll get a mortgage. If there are changes, for instance, in your financial profile after receiving this letter, you may not get a loan.