Thinking about borrowing money? Before you start shopping for a car or home, getting loan pre-approval is a smart move. It tells you how much you can borrow, helps with budgeting, and gives you a stronger negotiating position.
What Is Loan Pre-Approval?
Loan pre-approval is a conditional approval from a lender that confirms how much they’re likely to lend you, based on your current finances. It’s not a formal loan offer — but it’s the next best thing.
Key Benefits
Set a clear, realistic budget
Show sellers you’re serious
Speed up final approval
Avoid overspending
Compare loan options confidently
How to Get Pre-Approved
Gather your documents (ID, income, expenses, credit history)
Complete a quick online application
Work with a broker to assess lender options
Receive a pre-approval letter (valid for 60–90 days)
What Happens Next?
Once you’ve found your car, home, or project, submit final documents for formal approval and funding. Pre-approval gives you confidence and control throughout the process.
Loan pre-approval is one of the smartest steps you can take before making a major purchase. The Loan Spot can help you get there — faster, clearer, and with the right lender by your side.
Complete the form below to receive your pre-approval in just 60 seconds. This service is free and will not affect your credit score.
