Mortgage Information

Pre-Approval

Once you find the right home, you'll need to act quickly. And while it doesn't guarantee your mortgage application will be accepted, getting pre-approved is smart for these reasons:


  1. You can make a quick, confident offer on your perfect home
  2. Get the home you can afford, knowing exactly how much you can borrow and what your mortgage payments will be
  3. You can protect yourself from rising interest rates with a fixed interest rate mortgage. The rate's guaranteed for 130 days.
  4. Set your budget knowing that termamortization, and mortgage payments are locked in at the time of approval

How to apply for a Pre-Approval?

Things to Bring to Your First Meeting With a Financial Institution:

  1. Photo ID
  2. Verification of employment;
    • Most recent pay stub or advice of pay, letter from employer to confirm salaried incomes
    • Last two years T1 General supported by the corresponding Notice of Assessment for self-employed income or variable type income ( e.g. commission or overtime)
    • Based on the type of employoment or income, additional supporting documentation may be required
  3. The account numbers and locations of your bank accounts and investments
  4. Assets may include:
    • Vehicles
    • Boats
    • Investments and interest income
    • Retirement savings accounts
    • Collections
    • Jewelry
    • Other real estate holdings
  5. Liabilities may include:
    • Existing mortgages
    • Credit card balances
    • Car and student loans
    • Lines of credit
    • Co-signed or guaranteed loans
    • Liens
    • Child support