Do you need to get Pre-Qualified ? Yes
1. Most sellers will not accept an offer without at least a pre-approval letter. So if you are serious about buying, this is the first step towards getting you in your new home.
2. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only fiteen minutes. It does serve as a good indication to potential sellers of your general creditworthiness.