Realtors these days are requiring buyers to obtain Pre-approval, but do I need to show my realtor my pre-approval letter? Or is it enough to just tell them I’ve been pre-approved? Seems like I’d be divulging more info than necessary and it could work against me right?

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You have trust issues with your agent. I’d get a different one if it’s that bad.

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To be fair, the market is so hot. Some sellers require pre approval letter for showings. If I’m a realtor I would want to ensure what buyer is pre approved for. Btw what’s the downside for showing pre approval letter? You have control over offer price irrespective of what you’re pre approved for.

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You don’t need to show your approval letter to your realtor but they’ll see it anyway when they put an actual offer letter when you decide for a property. As Director 1 said, you can adjust the max amount when you make the offer if you’re not comfortable. Until then, they don’t have a right or need to see your max. As long as the property value falls under the pre-approval amounts, you are good to go. It’s your judgement and you can just simply tell a realtor that you got pre approved and tell them what price range of property you are looking for. Usually a realtor has a connection to your lender if they are referred through each other but they aren’t supposed to share information neither. I can’t think of any reason for realtor using the information against you though.

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Thanks!

The preapproval gets submitted with your offer so the seller knows you qualify. My lender had a tool for my realtor to adjust the approval amount showing so it was just at or above the offer price.

Any good agent will pre approve you by either connecting you with a mortgage originator or doing the math with you themselves. It's good for you to know your mortgage qualification ratios (house payment and total debt to income) and how much you can borrow. Also how much you want to spend which will be below or up to that amount. This avoids showing you houses you can't get a mortgage for.

Pre approval is very normal and different from proof of funds which can be required for more high end or in demand properties.

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