A loan pre-approval gives homebuyers a major edge over pre-qualification. While pre-qualification is a helpful estimate, pre-approval goes a step further—it means a lender has already reviewed your financial details. It signals to sellers that you’re not only serious but have the financial ability to buy their home. Plus, in a competitive market, having pre-approval can help YOUR offer stand out, giving you the edge over other buyers. It’s the first step towards a smoother, faster home-buying experience.