A pre-approval letter is a great way for your real estate agent to make your offer stand out to potential sellers. It’s a downloadable document stating an exact loan amount you can borrow, assuming certain conditions are met later such as a satisfactory financial review, title report and appraisal. It lets sellers know you’re serious about buying. Obtaining a pre-approval letter also lets you know what you can afford, so you don’t waste time looking at properties outside your price range.