Talked to a real estate agent friend and she changed how I view pre-approvals

Honestly, I always thought getting a pre-approval was just a formality before house hunting. My friend who sells in Calgary told me last week that a lot of buyers mess this up by not shopping around for rates first. She said she's seen people lose out on homes because they went with the first bank's pre-approval and later found out they could afford way less. Has anyone else had a realtor give them advice that totally flipped their plan?

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grayjohnson2d ago

Totally agree, I learned that lesson the hard way up in Edmonton where I locked into a pre-approval too fast and missed out on a better rate that would've bumped my budget by almost 30 grand.