When engaging in negotiations with a potential buyer, a home seller frequently requests a mortgage pre-approval letter. This pre-approval process entails the submission of evidence regarding employment, assets, income tax returns, and a credit score that meets the qualifying criteria. These pre-approval letters from mortgage lenders usually maintain their validity for a span of 60 to 90 days. Once the pre-approval is secured, the lender determines the maximum loan amount, a crucial factor in establishing the suitable price range for the prospective homebuyer.