What a preapproval means is a mortgage broker has verified that you qualify for a mortgage and the time frame for which the approval is good for.  This is a must first step in buying a home.  Most realtors will not even show houses without knowing that you have been preapproved.  The biggest benefit for a preapprovalis that now you will know how much of a home you can afford and how much it will cost you to get into that home.  Preapprovals are free and should be taken advantage of months before you look at that first home.

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