I just got pre-qualified for a home loan....?

What exactly does this mean for me? I am wanting to buy a brand new construction. I already spoke with the mortgage broker, faxed all my paystubs, W-2's and copies of my checking account and savings. She has pulled my credit report as well. I was never told how much I qualified for but I was told it is normal when financing through a builder. I did speak with the Sales Consultant for the builder and she told me the broker was faxing her the pre-qual letter tomorrow. Is all this good news? I really dont want to get too excited yet for obvious reasons. I was told to choose the colors, carpets and everything I wanted in the house. I felt bad the whole time because I didnt know whether I was wasting the Salespersons time not knowing if I would get the loan or not. What are the chances of me getting approved in the end? Any experience on this? Any and all info will be appreciated, thank you!