Even if you haven't previewed any homes yet, it's important to see your mortgage professional first.
A pre-qualify letter means that you have been screened by a mortgage professional who has determined that you meet the basic requirements to qualify for a home loan.
A pre-approval letter is a higher level of qualification and is the preferred letter to obtain because it means that you have submitted all of your mortgage paperwork and started the underwriting process and have received preliminary approval.
To a home seller, being pre-approved is like you walked into their house with a suitcase full of cash to make the deal! They won't have to wonder if they're wasting their time because you're already pre-approved for a mortgage.
Remember, you are competing with other buyers out there. You need to make the strongest offer possible. A pre-approval letter can make all the difference between you getting the home or someone else beating out your offer.
With a pre-approval letter, you have the clout of a buyer ready to make the deal right now!