Many homebuyers are finding credit pre-approval programs are an important step in the home buying process. A credit pre-approval decision provides potential buyers an opportunity to be pre-approved for a mortgage, even before they find a home.

Applying for a credit pre-approval decision is easy. If approved, you’ll receive a certificate showing the maximum loan amount or a monthly payment for which you may qualify. Then you’ll have 90 days to find a property. Final approval is subject to a completed sales contract when you find a home, verification of your financial status, and a satisfactory appraisal of the property.

Many lenders also offer a free estimate on how much buyers can most likely borrow without pulling an official credit report. While this is useful, the extra step of checking the homebuyer’s credit report and being pre-approved can offer a lot more comfort.