: Unlike a "pre-qualification," a mortgage pre-approval is a lender's written commitment to lend you a specific amount after verifying your income and assets [30, 35]. This letter is often valid for 60–90 days and is essential for making a serious offer [8, 27].

: Budget an additional 2% to 5% of the purchase price for legal fees, taxes, and appraisals [5, 30]. Phase 2: Mortgage and Team Building (3 Months Out)

Before you start looking at listings, you must ensure your "financial house" is in order. Lenders look for the : Capacity (ability to pay), Capital (available savings), Credit (history of repayment), and Collateral (the home's value) [12].

Once your finances are stable, it is time to formalize your buying power.