Gaining a mortgage preapproval is a huge advantage when you buy a house, as it makes your offer attractive to sellers since you're giving them a good assurance the deal won't fall through. It also means you're eligible for a specific loan amount, whereas "prequalified" merely says you have a chance to get the loan. But what requirements should you prepare for the preapproval process? Reasons to Continue Reading about Facts About Mortgage Preapproval When You Buy a House