Do I need to be pre-approved for my loan? What does it mean to be pre-approved for a loan?

There are different levels of "approval" that you can obtain for a loan. Your trusted agent and lender will help you along with these. You will definitely want to be approved or pre-approved for a loan before you write a contract. This will potentially make your offer stronger, make the seller and seller's agent take your offer more seriously, and help you to negotiate the best price possible.