You'll know how much home you can afford. Having a pre-approval can give you a solid idea of how much home you can really afford, especially as a first-time homebuyer. That can help you narrow down your home search, so you don't stretch your budget too far.

It makes you more desirable. If you're considering putting an offer on a house, having a mortgage pre-approval is essential. Otherwise, you risk being overlooked because home sellers won't see you as a serious buyer and will choose someone else.