There is no charge to do this and you are under no obligation to get a mortgage with this lender if you find a better deal later. Pre-approval is more serious. The bank will actually check your credit history, employment information, assets, and liabilities. If you're concerned that you might not qualify for a mortgage, we highly recommend that you go for pre-approval. It will put your mind at ease while you search for your new home and make the entire experience much less worrisome.
Some lenders charge for a pre-approval.
If you decide to go with one who charges for this service, make sure you're really going to buy a house soon or you'll just be throwing money away. Check out our Foolish calculators to find out how much you can borrow and how much your payments will be. It's very Foolish to know what to expect. The Motley Fool. All rights reserved.