Getting pre-approved for a mortgage is an essential first step in the home-buying process. This guide will explain how to get pre-approved and what you need to do.
Steps to Get Pre-Approved:
- Gather Your Financial Information:
To apply for pre-approval, you’ll need to provide:- Proof of income (pay stubs, tax returns)
- Your credit report (which can be accessed directly through us)
- Bank statements and information on existing debts
- Submit Your Pre-Approval Application:
Complete the application on Loans4Homes.ca and upload your financial documents. A mortgage expert will review your information. - Wait for Approval:
After reviewing your documents, we’ll provide you with a pre-approval letter, which outlines how much you can borrow. - Start Shopping for a Home:
With your pre-approval in hand, you’ll have a clear budget and be ready to make offers on homes.
Benefits of Pre-Approval:
Pre-approval helps you determine your price range, making your home search more efficient. It also shows sellers that you’re a serious buyer, which can give you a competitive edge.
