A mortgage pre-approval can be a valuable tool for anyone looking to buy a home, as it can help you to budget your finances, understand what you can afford, and make you a more attractive buyer to potential sellers.

One of the main benefits of a mortgage pre-approval is that you can lock in current rates for up to 120 days.  If rates go up before you find a property you will get the lower locked-in rate.  This will give you a clear idea of what you can afford. When you know how much you'll be able to borrow, you can start looking for homes within your price range, which can save you a lot of time and energy.  Additionally, having a pre-approval can help you move quickly when you find the perfect home, since you'll be able to make an offer right away, rather than waiting for your lender to approve you for a mortgage.

Another benefit of a mortgage pre-approval is that it can make you a more attractive buyer to sellers. When you have a pre-approval, it shows that you're serious about buying a home and that you have the financial means to do so. This can make you more appealing to sellers, who are more likely to accept your offer if they know that you've already been approved for a mortgage.

A mortgage pre-approval can also help you to budget your finances more effectively. When you know how much you'll be able to borrow, you can start planning for other expenses, such as closing costs, moving expenses, and home repairs. Additionally, knowing how much you'll be able to borrow can help you to better understand your monthly payments and how they'll fit into your budget.

A mortgage pre-approval process may also help you identify potential roadblocks in your credit history. With this information, you can work on improving your credit and taking steps to overcome any issues before you apply for a mortgage.

It's important to note that a mortgage pre-approval is not a guarantee that you'll be approved for a mortgage, as the lender will still need to verify your information and underwrite your loan.  However, it can be a valuable tool for anyone looking to buy a home, as it can help you to budget your finances, understand what you can afford, and make you a more attractive buyer to potential sellers.