Pre-approval

A real pre-approval is more than an online estimate — the lender reviews your credit, income, and down payment, then holds a rate for you (typically 90–120 days). If rates rise while you shop, you keep the held rate; if they fall, most lenders re-rate you lower.

It is not a guarantee. The final approval still depends on the specific property passing appraisal and the lender confirming nothing changed (don't finance a car or switch jobs mid-search). Pre-approval tells you your ceiling and makes your offer credible to sellers.

Getting pre-approved with a broker means one application shopped across many lenders, so you start house-hunting knowing both your true budget and the sharpest rate available for your file.