Mortgage pre-approval


Why get pre-approved for your mortgage? 

In a nutshell, to avoid disappointment!  There is nothing like finding a house that feels like your home, only to find out that the object of your affection is out of your reach.  Careful planning, saving early for your down payment, and getting sound financial advice is a must in this world of fast paced real estate transactions.

Who should I call?

There are many options for pre-approval available.  You can contact your lending institution, research a local mortgage broker, and the internet savy can even find options online (using caution of course).  Ask for referals from trusted sources.  After meeting with your chosen mortgage specialist, you will be in an informed position to begin your search.  You will be provided with a pre-approval certificate which outlines the maximum amount that can be borrowed, the interest rate to be charged, as well as the monthly payment.  Now, all this being said, a pre-approval is not approval.  The home you choose may be subject to a satisfactory appraisal by your chosen lending instiution, as well as verification of the taxes.  They want to verify the house is worth the price before lending the money to you. 

Pre-approval will allow you to go into the home purchasing process with confidence, keeping your search focussed and much more pleasurable.  Knowing your limits heading into this process will make things quicker, you will not have to wait for approval from your lender after you have found your home only to find someone else with pre-aproval has come in and scooped your dream home. 

Already pre-approved?

If you have already been pre-approved for your mortgage and you are ready to begin the house hunting process, give me a call and we can start looking for your home in an educated, controlled way!




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Kathy Dionne

Kathy Dionne

CENTURY 21 Millennium Inc., Brokerage*
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