A mortgage pre-approval is a lender’s written estimate of how much a buyer can borrow, based on a review of their finances. It signals that a buyer is serious and close to being able to make an offer.
At an open house, a visitor who is pre-approved, has a short timeline, and is unrepresented is the strongest lead the event can produce. Asking about pre-approval as an optional field lets serious buyers self-identify without pressuring casual ones.