A Mortgage Pre Approval states the maximum amount that can be spent on a home by a buyer. There are more aspects behind the maximum amount that also need to be considered.

• Monthly payment is more important than maximum budget.
• What down payment amount is required.
• Monthly payment also includes insurance and other costs

Lori Hiscock from Ruoff Home Mortgage in a blog post also offers greater detail on the mechanics of a mortgage pre approval.

If looking to buy or sell a home, within your maximum budget, contact me.