MORTGAGE PRE-APPROVAL

What is a pre-approved mortgage certificate?

 

This is a certificate that secures a mortgage amount at a guaranteed rate (for fixed-rate mortgages) for a specific length of time. If interest rates increase, your rate will not. And, if interest rates fall, you get the lower rate. You're under no obligation to purchase a home within the time period.

 

Why is it important in buying a home?

 

A pre-approved mortgage certificate allows you to shop confidently and provides you with the security of negotiating a house price that falls comfortably within your budget. The fact that you already have your mortgage financing arrangements in place indicates to prospective vendors that you are a serious buyer.

 

What do I need to get one?

 

- Personal information, including identification such as your driver's license

- Details of your job, including confirmation of salary in the form of a letter from your employer

- Sources of income

- Information and details on all bank accounts, loans and other debts

- Proof of financial assets

- Source and amount of down payment and deposit

- Proof of source of funds for the closing costs (these are usually 1.5% of the purchase price)

 

Want to know more?

 

 and fill out the form with your details.  We will have a representative contact you shortly.