There are 5 Important reasons that being pre-approvedfor a loan is a benefit to buyers.
First, you will know exactly the right price range for your purchase.
Second, errors on credit report are common. You can correct these errors without putting your earnest money deposit on a house you really want at risk.
Third, sellers are more negotiable with pre-approved buyers. Forth, if there are multiple offer, the sellers are more likely to select a buyer who is pre-approved. finally most contracts require you to be approved for your loan in 21-30 days. This gives you a head start on the process.