Does a home Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?

Does a home Loan Pre-Approval Letter Guarantee We Shall Get the mortgage?

Reader question: “My uncle who’s a genuine estate agent recommended that my family and I have pre-approved for a mortgage before we go out searching for homes. But he didn’t go in to the details quite definitely. He simply stated that sellers won’t ‘give us the full time of day’ without having a loan provider page of some type. My concern, does the lender’s pre-approval letter guarantee we’re going to have the mortgage loan? […]