A wise first step in the home buying process is to get a mortgage pre-approval. This simple step enables you to approach the home buying process with confidence.

The first thing you want to know about pre-approvals is that they are different than pre-qualifications.

A pre-qualification is a simple process where a Bank or Lender is given general information about your overall financial situation; in turn, they give you a basic idea of the amount you may qualify for. Another way to get a general idea of what you can afford is to use our Mortgage Affordability Calculator.

We are committed to providing in depth pre-approvals. By meeting with you on a one-to-one basis, we are able to examine your individual financial position and goals and review all of the preliminary mortgage options and details. We collect documentation up front, and we have the ability to pull your credit information and review it directly with you at our initial meeting.

When you receive your pre-approval, you are usually given a rate hold on your interest rate for up to 120 days. This means that if interest increase within those 120 days, there is no need to worry – you are already locked in at the lower rate. If rates happen to decrease that time, your broker will take the necessary steps to secure the new, lower rate on your behalf.

To discuss the pre-approval process with a certified Mortgage Broker, contact us today.

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Our team can assist in securing an interest rate for up to 120 days

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