Facts with Jay! Why Pre-Approval Comes Before House Hunting

Falling in love with a house before you know your number is the fastest way to heartbreak. A pre-approval tells you what a lender is actually willing to fund, and it tells a seller you are serious.

Lenders generally review three things: your credit profile, your income and employment history, and your debt-to-income ratio. Small changes — paying down a card, avoiding a new car loan — can move your number meaningfully.

Get pre-approved before you tour. In a competitive moment, the buyer with financing in hand is the buyer who gets the call back.