Mortgage Pre-Approval | ONTARIOMORTGAGE.CA

Mortgage Pre-Approval

You need a mortgage pre-approval before you go house-hunting?

Find out how much you can afford before you go house-hunting!

This will keep you focused on shopping for homes within your price range. If you qualify for a pre-approved mortgage, you'll be certain of the size of mortgage for which you qualify and guaranteed a rate for a specific period of time (max. 120 days).

If you don't qualify for a pre-approved mortgage on a specific home that you just found, I will be able to help you estimate your maximum mortgage-qualifying amount.


How pre-approval works?


Getting a mortgage pre-approval means you’re preparing to take the next step in the home-buying process. I will guide you through the pre-approval process. 

  • You and I will discuss your financial strategy and needs, mortgage amount, down payment, purchase price, etc.
  • You'll learn about the various available mortgage options (fixed vs. variable rate, interest terms, payment options, amortization, etc.) and discuss which of them best suit your needs.
  • With your consent, I will take an application, which will require you to provide details on such items as employment, income, assets, down payment (if applicable) and liabilities.
  • You'll give me permission to obtain a credit bureau report.
  • I will advise you about the documentation (income confirmation, down payment confirmation, etc.) you'll need to supply upon conditional approval of your mortgage. Any conditions must be met for your mortgage to be fully approved.
  • Pre-approvals are subject to your continued good credit and are usually good for 60, 90 or 120 days depending on the lender.


Why get pre-approved?


  • You'll save time house-hunting, seeing only homes you can afford.
  • You’ll have a better idea of your monthly payment amounts, as well as how much your down payment will be.
  • Real estate agents may serve you better because they know you're serious and ready to buy.
  • When you make an offer to purchase, the seller may be more likely to give it serious consideration because you have solid financial backing.
  • Your pre-approved status may give you more negotiating power with a seller.
  • Some lenders may give you a rate lock so you don’t have to worry about rising interest rates while you look for a new home.
  • There's no cost to you and you're not obligated to accept the mortgage.



What's Next


First time buyer or refinancing? Call for a free quote!


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We shop for the best mortgage option at no charge to you.

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Crunch the numbers and explore your options!

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