Based on your income level and your credit, the lenders will approve you for a certain amount of money that you can borrow. This will help you define your budget for the home you will be buying. You can also discuss the various financing option available and which one suits you best. You should also obtain a GFE (Good Faith Estimates) from the lender that gives you an estimate of what your closing costs would be and what your monthly payments would look like for the amount of loan that you are pre-approved for.

I help my clients understand and compare the financing they will finally use. As I am one of the top real estate agent, I work closely with various lenders and mortgage brokers