Why Getting Pre-Approved For Mortgage Financing Is Critical

​​​Pre-approval and rate hold certificates are documents that provide confirmation that a lender has evaluated an your financial information and has pre-approved you for a loan. These certificates also provide assurance that you will receive a certain rate of interest on the loan. This can be helpful in negotiating lower rates with other lenders. Rate hold certificates also guarantee that the rate of interest  you are offered will not increase over a certain period of time, typically 30 to 120 days.

A pre-approval is fast and easy, but it's not the same as a pre-qualification

A pre-approval is a much more in-depth process than pre-qualification. Pre-qualification is a process that determines the amount of loan you are likely eligible to receive, while pre-approval is a more detailed process that requires a credit check and proof of income. Pre-approval is also an indication that a lender is willing to lend you a certain amount of money, while pre-qualification does not guarantee that you will receive the loan.

Steps to Getting A Pre-Approval

1. Call us to book an appointment to go over your mortgage pre-approval.  Please call (647) 773-4849 to schedule your pre-approval appointment.