The pre-qualification process with Sonoma County Home Loans gives you a home buying budget based on verbal information you give your loan broker.  Lenders will allow up to almost half of your qualifying gross monthly income to go to all debt obligations.   By comparing your income and your current debt obligations, a broker can tell you how much mortgage you may be approved for.  This calculation will include the estimated monthly obligations of the new mortgage along with monthly taxes, property insurance and any mortgage insurance and/or homeowners' association dues. 

Pre-qualifications are for your own knowledge, but to make an offer on a home, a buyer requires a more detailed pre-approval.