Buying a Home  > Pre-Approval A Very Powerful Tool

A pre-approval is a no-cost, no-obligation deal - that lets you know before you go house hunting or sign an offer, how much you can afford to buy!

BENEFITS OF A MORTGAGE PRE-APPROVAL

(a) Determining your Price Range - Knowing what you can afford so we are not wasting time looking at properties that don't meet you financial needs.

(b) Locking in the Interest Rate - Banks are locked in for period of time (usually 60-90 days) while your not. If interest rates go up you're locked in, if rates go down, your rate follows.

(c) Negotiate with confidence - Once you know the Mortgage is in place, offers don't have to be conditional on financing and that may give you some bargaining power.

Pre-Approval - A Powerful Tool For Home Buyers

Most people buying a home need a mortgage.

Too often, in the past, arranging a mortgage was left to the very end, sometimes even after a house was bought, forcing borrowers to scramble for financing.

My how things have changed!

Today it's important to shop for a mortgage before you purchase a home, since most lenders will "pre-approve" buyers for a mortgage. Some lenders will even do it over the phone.

When getting pre-approved for a mortgage, see how long the rate commitment is good for; it differs from lender to lender.

With a pre-approved mortgage, you can confidently negotiate the purchase of a home, knowing the mortgage financing is arranged, subject to final property appraisal.

One of the best moves you can make when thinking about a pre-approval is to speak with a mortgage consultant. The mortgage consultant will do the shopping and negotiating for you to find the best mortgage at the best rate!