Ask Harry · Buying a Home
Why get pre-approved before I start looking?
Short answer
It's your ticket in, and it tells you your real budget. What I like to say to people is, "You wouldn't walk into a store to buy something unless you knew how much money you had in your wallet or what your credit balance is on your credit card."
Full answer
Because it's your ticket in. Sellers and their agents take you seriously when a lender has verified your numbers, and you can act the day a home you love hits the market. It also tells you your real budget, so you look at homes you can actually buy.
Something that I have seen happen to people who don't get pre-approved first is that they go to see a house, maybe it's at an open house, and they're just driving around. They fall in love, and then they call me up and say, "Harry, we saw this great house. We want to buy it."
When they talk to the lender and the lender tells them that they can only get pre-approved for $50,000, maybe $100,000, or $200,000 less, then that house, that dream house of theirs, is the one that got away. That makes it really hard for them to find a house that they can afford that works for them.
Ready before you look
What pre-approval actually does
Shows sellers you're serious
A pre-approval letter separates a ready buyer from a browsing one. Sellers and their agents take a verified buyer seriously from the first conversation.
Sets your real budget
Verified numbers give you a clear, credible ceiling before you start touring. You look at homes you can actually buy instead of falling for one that is out of reach.
Speeds up the offer
When the right home appears, the financing groundwork is already done. You can write an offer and move forward without starting the loan process from scratch.
In plain terms
The way I like to explain it
Shopping without pre-approval is like trying on suits before you know your budget. The pre-approval is the honest number that makes the whole search real.
Putting it to work
What this means when you're starting
Get pre-approved before you tour, and treat the number as the ceiling, not the target. Use the time to get your financing picture clear so the whole search moves on solid ground. When the right home appears, you will be ready to act on your timeline.
Ask Harry
Ready to talk it through?
Whether you are buying, selling, or relocating in the DC area, the first step is a conversation. No pressure, just a straight answer.