Getting pre-approved requires that a lender verify your financial information, and based on that information you will be provided with a printed document from the lender stating your maximum approved loan amount.
Once pre-approved you have the assurance that you’re looking at homes you can confidently afford to finance. Your efforts will be focused on properties that match your financing abilities.
You’ll also have an edge over other buyers who aren’t pre-approved. In situations where there are multiple offers on a property, this can be the difference between having your offer accepted or losing the property to another buyer.