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Buyer's Guidechevron_rightGlossary

Pre-approval

In plain English

A lender's written estimate of how much it will lend you, after checking your credit, income and savings. It's stronger than a pre-qualification, which is based only on what you tell the lender.

By David Knorr · Last reviewed October 28, 2026

Why it matters to you

It sets your real budget and shows sellers your offer is serious. It's good for a limited time, often a couple of months. See Step 2: Get pre-approved.

routeStep 2: Get pre-approvedLoan EstimateDebt-to-income ratioDown payment

infoGeneral information based on the standard Georgia REALTORS® purchase contract and public guidance. Your own contract decides: read it, and ask your agent or closing attorney about anything that matters. Not legal or financial advice.