Get a Mortgage Pre-Approval

The first step in a successful home search is knowing how much you can afford. You don’t want to fall in love with a property only to find out it’s outside your price range.That’s why I recommend getting a Mortgage Pre-Approval. This is a document from your bank or other lender stating how much of a mortgage they are willing to give you. There are two advantages to getting this pre-approval:

  • It gives you the peace-of-mind of knowing you can afford homes you view on the market, and won’t have problems arranging financing.
  • It lets sellers that you are a serious, prepared buyer and is typically included with your offer.

You can arrange for a Mortgage Pre-Approval with your bank or other lender, or by working with a good mortgage broker. If you like, I’m happy to recommend a reputable broker or lender to help you get started.

How Much Home Can You Afford?

Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to lend. They look at your income, expenses, credit history and employment status, as well as the down payment you plan to make on a home. It may seem like a scary process, but it is actually straightforward. You can usually get a Mortgage Pre-Approval in a day.

Have questions about arranging financing? Feel free to contact me for quick response.