Pre Approval Letters
A pre approval letter from a lender positions you to make an appropriate offer on the home of your choice. It also gives you the range in which you should begin to look. You don't want to just begin to look at homes and then fall in love with one that you cannot afford. The pre approval process also helps you to determine which type of mortgage is best for you. It also gives you leverage and credibility with the sellers when you make the offer on your new home.
Watch this video for more detailed information.