Your Mortgage Prior to selecting a home, you may wish to choose a mortgage program that suits your needs. The advantages of doing this are: A Pre-Qualification Letter – Your lender’s pre-qualification provides a ballpark estimate of how large a mortgage you can afford. While it doesn’t obligate the lender to approve your loan, it is a way to help you ensure that you will apply for a mortgage loan within your price range. You will have a good idea of the maximum mortgage amount you can afford and will focus your house search on properties with your price range. You’ll have more leverage in negotiations with the seller. The seller often prefers to negotiate with a pre-qualified or pre-approved buyer because the seller knows you are financially qualified to obtain the financing you need. A pre-approval letter is an especially favorable element in a multiple offer situation. You will feel more confident about making an offer with your lender’s support in hand and with the knowledge you will be able to obtain a mortgage. | 
