If buying a home is even remotely on your radar—whether it’s a “maybe next year” or a “some day down the road” kind of plan—getting pre-approved now is one of the smartest steps you can take. Why? Because being prepared gives you clarity. And clarity leads to confidence.
In fact, the best time to get serious about buying is before you’re actually ready to buy. Here’s why pre-approval is a foundational step worth taking early in the process:
Pre-Approval Helps You Understand Your Numbers
One of the biggest benefits of getting pre-approved is that it gives you a clear picture of your financial reality. A lender will review your income, debts, credit score, and other financial details to determine how much you can borrow. This isn’t just about getting a number—it’s about understanding your true buying power.
Armed with that information, you no longer have to guess. You know what you’re working with. That clarity helps you avoid wasting time looking at homes that are outside your budget—or overlooking homes that actually fit your price range. Pre-approval sets realistic expectations and allows you to plan ahead with confidence.
Pre-Approval Helps You Act Quickly
You don’t have to be ready to buy to be ready to buy. It happens all the time: someone’s casually browsing homes online and—bam!—they fall in love with one. But while they’re scrambling to call a broker and start the loan process, someone else swoops in with their pre-approval ready to go and makes an offer.
Don’t let that be you.
While you can’t control when the perfect house will hit the market, you can control how ready you are for it. Pre-approval isn’t about rushing your timeline—it’s about being ready when the time is right. Instead of trying to gather financial documents, contact a lender, and get your loan figured out in a panic, you’ll already be several steps ahead.
Think of it like showing up to the race with your shoes laced and your warm-up done—while everyone else is still circling for a parking spot.
Pre-Approval Has an Expiration Date—So Stay Informed
One important thing to know: pre-approvals don’t last forever. According to Bankrate, “Many mortgage pre approvals are valid for 90 days, though some lenders will only authorize a 30- or 60-day pre approval. If your pre approval expires, getting it renewed can be as simple as your lender rechecking your credit and finances to ensure there have been no major changes to your situation since the first time ‘round.”
So if you’re planning to wait a bit, talk to your lender about how long your pre-approval is valid and what’s needed to renew it if necessary.
Bottom Line
Getting pre-approved doesn’t mean you’re locked into buying a home tomorrow. It just means you’ll be ready when the time is right—on your terms. It gives you financial clarity, strengthens your position in a competitive market, and allows you to shop for homes with real confidence.