You'll know what you can afford. Getting pre-approved before you shop is imperative, as it allows you to shop within your price range.

It makes your offer more relevant. When the seller knows that your information has been reviewed by a mortgage underwriter, it makes everyone involved more confident -- and gives your offer more significance.

It gives you negotiating power. Having a pre-approval always puts you ahead of a buyer who doesn't. This is a game-changer when you're in a bidding war with others

It will help you save, not spend. When you're in the market for a new home, it's easy to get caught up in the excitement of making purchases. Having the details on your new home's interest rate, closing costs and down payment will help you curb your urge to buy outside of your budget.