Is it beneficial to have a pre-approval letter for financing when putting an offer on a property? Yes, definitely! A pre-approval is when a potential mortgage lender looks at your finances to find out the maximum amount they will lend you and what interest rate they will charge you. With a pre-approval, you can: know the maximum amount of a mortgage you could qualify for estimate your mortgage payments lock in an interest rate for a certain period of time After all, how can you shop for property when you don’t know how much money you have to spend or, more importantly, how much a lender will loan…