# Pre-approval

> 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, founder of BuyWise Home. Last reviewed October 28, 2026. Web page: https://www.buywisehome.com/guide/glossary/pre-approval

## 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](https://www.buywisehome.com/guide/get-pre-approved).

## Related

- [Step 2: Get pre-approved](https://www.buywisehome.com/guide/get-pre-approved)
- [Loan Estimate](https://www.buywisehome.com/guide/glossary/loan-estimate): A standard form every lender gives you, so you can compare loans side by side.
- [Debt-to-income ratio](https://www.buywisehome.com/guide/glossary/debt-to-income): Your monthly debts divided by your monthly income. Lenders use it to size your loan.
- [Down payment](https://www.buywisehome.com/guide/glossary/down-payment): The part of the price you pay in cash. The loan covers the rest.

_General 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._