How to Increase Your Mortgage Pre-Approval Amount

KEY TAKEAWAYS

• A mortgage pre-approval helps you understand how much you might be eligible to borrow when you apply for final loan approval.
• Mortgage pre-approval letters give you more purchasing and negotiating power by making you look like a more serious and qualified buyer to sellers. 
• Increasing your credit score, making a larger down payment, reducing debt, getting a cosigner or co-borrower, and applying for a longer term can help you increase your pre-approval amount.