Getting Pre-Approved
There is a difference between being pre-qualified and pre-approved for financing. Pre-qualification entails answering general questions about your income, expenses, and assets to arrive at a general sense of a "safe" loan amount to expect.
Pre-approval is the second step in the process. Once you have been pre-qualified, you complete the loan application. The application will take more specific details of your financial situation to arrive at what the bank would officially fund you if you were to take out a loan.
Being pre-approved will help you to move quickly to make an offer, will make your offer desirable, and ultimately will aid dramatically to a smooth transaction. I happily give my clients referrals to San Francisco's top Mortgage Brokers.