Your Journey to Homeownership Starts with Pre-Approval
Your Calgary and Alberta Mortgage Expert
Mortgage Pre-Approval. Secure Your Dream Home Purchase!
Mortgage pre-approval is a preliminary assessment of your financial situation by a lender to determine how much you can borrow for a home mortgage. It's crucial because it gives you a clear budget, strengthens your offer to sellers, and accelerates your home-buying process.
I can help with your financial strategy, your mortgage amount, down payment amount, and purchase price and give you an overall idea of what you can realistically afford. I will advise you about the documentation (income confirmation, down payment confirmation, etc.) you'll need to supply upon conditional approval of your mortgage. Any conditions must be met for your mortgage to be fully approved. Pre-approvals are subject to your continued good credit and are usually good for 60, 90, or 120 days depending on the lender.
Call Now to Get Pre-Approval Today!
(403) 423-2222 Apply Online
Why Choose Us for Pre-Approval?
Streamlined
Process
-
Our pre-approval process is designed to be efficient and straightforward, saving you time and energy.
Variety of
Options
-
We offer a range of mortgage options to suit your needs, including fixed-rate and adjustable-rate.
Expert
Guidance
-
With Pabla's expertise, you're in capable hands. He will provide personalized guidance tailored to your unique financial situation.
Local Market
Insight
-
As a Calgary-based brokerage, we have in-depth knowledge of the local real estate market, enabling us to provide you with relevant and up-to-date information.
Mortgage Pre-Approval Process: How it Works
Pre-approval is a crucial step in your home-buying journey. Here's how our pre-approval works.
-
1
Complete the Online Form
Fill out our simple online form with your basic information, employment details, and credit score.
-
2
Consultation
We will review your information and contact you to discuss your goals, and provide initial insights.
-
3
Documentation
We'll guide you through the documentation process, helping you gather the necessary paperwork for a thorough pre-approval assessment.
-
4
Evaluation
We evaluate your profile and provide a pre-approval letter.
-
5
Pre-Approval Letter!
Once approved, you'll receive an official pre-approval letter, empowering you with confidence as you embark on your home search.
Prefer to Speak Directly?
Take the First Step Toward Your Dream Home. Get Pre-Approved Today! Simply call us and We Will Walk You Through the Pre-Approval Process.
Low Rates, Pre-Approval, and More. Speak with Calgary Mortgage Specialist, Manpreet. Call Us Now!
(403) 423-2222
Frequently Asked Questions
-
What is mortgage pre-approval, and why is it important?
Mortgage pre-approval is a preliminary assessment of your financial situation by a lender to determine how much you can borrow for a home loan. It's crucial because it gives you a clear budget, strengthens your offer to sellers, and accelerates your home-buying process.
-
Who is pre-approval ideal for?
1 First-Time Home Buyers: Helps determine borrowing capacity and strengthens offers. 2 Upgrading Homeowners: Assists current homeowners in budgeting for a new home and making competitive offers. 3 Refinancers: Provides insight into new mortgage terms for existing homeowners. 4 Real Estate Investors: Enhances purchasing power for additional properties. 5 Second Home Buyers: Clarifies financial limits for purchasing vacation or second homes. 6 Home Equity Borrowers: Determines how much can be borrowed against home equity for renovations or debt consolidation.
-
What documents are required for pre-approval?
Commonly requested documents include proof of income, employment history, credit score, identification, and recent tax returns. Our team will guide you on exactly what's needed.
-
How long does the pre-approval process take?
Our process typically takes a few days, but it can vary based on the complexity of your situation and the responsiveness of document submissions.
-
Will a pre-approval affect my credit score?
While pre-qualification typically doesn't affect your credit score, a pre-approval requires a hard credit inquiry, which may temporarily impact it.
-
Can I change lenders after getting pre-approved?
Yes, you can switch lenders even after being pre-approved. However, keep in mind that switching lenders might affect the timeline and require additional documentation.
-
Is my pre-approval amount the final loan amount?
Your pre-approval amount is an initial estimate. The final loan amount will depend on factors like the property's appraisal and underwriting.
-
Is a pre-approval letter a guarantee of a mortgage?
A pre-approval letter is not a guarantee but a strong indicator of your eligibility. Final approval is subject to underwriting and property evaluation.
-
Can I get pre-approved with a low credit score?
We work with borrowers with various credit scores. While a higher credit score may qualify you for better rates, we strive to find suitable options for all credit profiles.
