What a preapproval can tell you
A lender may estimate borrowing capacity and describe a possible rate hold. Ask exactly what has been reviewed, how long any hold lasts and which conditions remain. Terminology varies between lenders.
What it cannot promise
Preapproval is not a guarantee of final financing. The lender must also accept the property and confirm your circumstances. Discuss financing conditions with the professionals advising on your purchase before signing an offer.
Be ready to describe your plans
Start with the location, whether you will occupy the property and your target timing. Do not upload identification, tax records or bank statements to this initial enquiry.