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First Step to Buying a Home - Pre-Approval Letter


Buying a home can be a whirlwind process and can cause great questions like "Why should I get pre-approved?"  You made the choice to look for a home, perhaps you have even spoke with a Real Estate Agent.  Maybe you have looked at a few homes online or maybe even went to a few open houses.  The Real Estate Agent may suggest that you have pre-qualified or better yet pre-approved for your home mortgage.

Did you know you can improve your purchasing power by making sure you are pre-approved for a mortgage?

A pre-approval letter gives you a competitive advantage against other buyers who have simply been pre-qualified for a loan. Sellers are more likely to accept your offer on their home because you have been guaranteed a loan. Plus, it can also speed up the closing process.  Especially in today's market.  Unfortunately there are many short sale properties available.  When submitting an offer to lenders, they will require a pre-approval letter prior to accepting the offer.  Receiving a pre-approval is more than just a Loan Officer looking over your numbers.  During the pre-approval process we'll determine how much money you are eligible to borrow by reviewing debt, income and savings information.  A pre-approval is where the application, credit, and supporting documentation is provided to the lender and they approve the loan prior to even knowing the home address.  From this, it's just a matter of locating YOUR home, completing an appraisal, and submitting the executed contract.

You never know when you will stumble upon the perfect house during your home search. If you have to wait to be approved, your dream home could be snapped up by someone else. Why not be armed and ready to make an offer?


Another helpful read while you are searching for your dream home is 7 Common Home Buying Mistakes



Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice.  If you are available to talk, I am available to listen.  Give me a call or visit my website for more details.

Do you want to know all of your mortgage options? Call me today and let's discuss them further.

Texas Home Loan Consultant

Always available for your Texas Mortgage and Home Loan needs!

John R Cannata    P#214.728.0449

NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage



The views expressed on this site are mine alone and do not reflect the views of my employer.

Comment balloon 9 commentsJohn Cannata • March 18 2009 11:27AM


Can I get an AMEN?! Let me add that MOST agents DO NOT show unapproved or pre qualified buyers. to reiderate, no pre-approval - no offer submission! thanks for posting this sir!

Posted by Greg Nino, Houston, Texas (RE/MAX Compass, formerly RE/MAX WHP) about 11 years ago

Dittos to what Greg Nino said!  Looking for homes without first being pre approved is like going shopping and not knowing how much money you have - you'll "figure it out at the register".  To date we have never submitted any offers that did not have a good pre approval letter and status and we certainly are not going to change that anytime soon!  Pre approval is the critical first step to both selling your existing home (because you have to buy another one right?) and especially first time buyers!  As Sy Syms famously says - "At Syms we believe an educated consumer is the best consumer"


Posted by Brian & Marie Spray, Frisco TX Realtors ( - Action Realty Group) about 11 years ago

Great explanation. No approval, no getting in my car!

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - about 11 years ago

Hi John, Thank you for this educational post for the consumer on the subject of pre-approval.

Posted by Shirley Parks, Broker, 210-414-0966, San Antonio TX Real Estate (Sands Realty 210-414-0966) about 11 years ago

Thanks for the confirmation Greg.  I hear you loud a clear.

Brian - I will have to add that phrase to my future blog.  Excellent analogy.

It definitely saves you a lot of time Donna.  You could be wasting your day on looking at houses in a $350K range and end up working on a house that is MUCH cheaper or perhaps having no sale at all because the person does not qualify at all.

Thank you Shirley.  Figured I would make it short and sweet.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 about 11 years ago

John, I really have to agree with Brian. So many agents go shopping and not knowing how much their customer can afford. That's when you see low ball offers on newly listed property...

Posted by Paul S. Henderson, REALTOR®, CRS, South Puget Sound Washington Agent/Broker! (Fathom Realty Washington LLC) about 11 years ago

I agree, there are far too many low ball offers Paul.  Thanks for stopping by and providing your thoughts as well.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 about 11 years ago

Anyone who does not have a pre-approval in this day and age would not even be taken the least bit serious.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) about 11 years ago

You are right about that Bill. With the strict guidelines of lenders, its important to identify any 'issues' ahead of time.

Posted by John Cannata, Texas Home Mortgage - Purchase or Refinance (214-728-0449 about 11 years ago