Can I look at a house without mortgage preapproval?

Contributed by Tom McLean

Jun 19, 2025

4-minute read

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Can you look at a house without preapproval in hand when you’re considering buying a new residence? Absolutely. Mortgage preapproval is not required to tour a home. However, mortgage preapproval will help you find an experienced real estate agent and make a more persuasive offer when you do find a home you want to buy.

What is a mortgage preapproval letter?      

A preapproval letter details a lender’s estimate of how much you can borrow to buy a home based on an initial review of your financial information. This shows real estate agents and sellers that you’re ready to buy, and that getting a mortgage shouldn’t be a problem.

Mortgage preapproval opens doors because agents don’t want to spend their limited time showing homes to people who aren’t ready to buy. Sellers may ignore offers for the same reason.

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Do real estate agents require preapproval letters?

Many real estate agents won’t require a preapproval letter to show you homes while others will.

The advantage of approaching an agent with mortgage preapproval include:

  • A preapproval letter shows the agent you’re a serious buyer.
  • A preapproval letter reduces the risk of negotiating a sale only for it to fall through because the buyer can’t get financing.
  • Preapprovals help your real estate agent make qualified offers on your behalf.

If you want to know whether a specific agent requires preapproval before helping you shop for a home, ask them.

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5 reasons to get preapproval before touring homes

Real estate agents prefer to show homes to preapproved buyers because it shows they’re ready to buy. Sellers like preapproval for the same reason. Here are some other reasons to get mortgage preapproval before shopping for a home.

1. It gives you an advantage in a competitive housing market

A preapproval letter helps your real estate agent position you as a serious buyer. It gives you an advantage over buyers without preapproval because your offer is more likely to go through.

2. It can speed up the home buying process

With preapproval behind you, some of the financial vetting required by lenders is already done. This can lead to fewer delays and a faster closing.

3. It can help you lock in better loan terms

A preapproval letter tells you what interest rate and mortgage terms you can expect to qualify for. Obtaining multiple preapproval letters allows you to compare mortgages and select the best terms before beginning your house search.

4. It may strengthen your ability to negotiate with home sellers

Preapproval can help you negotiate with sellers. For example, if your offer isn’t the highest, you may persuade the seller to choose yours because the preapproval shows you’re financially prepared and ready to close.

5. It’s easier to make offers on real estate properties

When you’re preapproved, sellers take you more seriously and are more likely to consider your offer. Plus, a preapproval letter estimates how much you can borrow, giving you a clearer picture of how much home you can afford.

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How do you get a preapproval letter?

To get a preapproval letter, apply with a lender. You’ll need to provide documents that give the lender a clear picture of your finances, such as:

  • Identification
  • Bank statements
  • W-2s
  • Tax returns
  • Gift letters, if applicable

Your lender will verify your finances and order a hard credit check. This ensures your credit history is accurate and you're in good financial standing.

Should you get preapproved for a mortgage, your lender will provide you with a preapproval letter. This letter is not a binding commitment. It’s a conditionally approved offer, typically valid for 60 – 90 days, to lend you a certain amount of money.

Can you make an offer without preapproval?

You don’t need preapproval to make an offer on a home. However, you may find it more challenging without one to persuade the seller to accept your offer. Preapproval shows the seller that you’re ready to get a loan and close the sale.

Let's say you don't have preapproval and are up against another buyer who does. There’s a good chance the seller will accept the offer backed by mortgage preapproved because it’s more likely to close without delays.

Disadvantages of mortgage preapproval

There are a few potential downsides to mortgage preapproval:

  • Preapproval is not a guarantee that you can get a mortgage.
  • Preapproval is limited, and expires after a specific period.
  • You may feel pressure to continue working with the issuing lender, even though you’re not obligated to and can switch loan providers before closing.
  • It can slightly reduce your credit score because of the hard inquiry.

The bottom line: You can look at a house without preapproval

It’s helpful but not required to get mortgage preapproval to tour homes. Preapproval shows real estate agents and home sellers you’re ready to buy. It also shows you have your finances in order. With a preapproval letter, you can make a more serious offer on a home.

Ready to start the process? Apply for initial mortgage approval with Rocket Mortgagetoday.

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Christian Allred

Christian Allred is a freelance writer whose work focuses on homeownership and real estate investing. Besides Rocket Mortgage, he’s written for brands like PropStream, CRE Daily, Propmodo, PropertyOnion, AIM Group, Vista Point Advisors, and more.