Get a Mortgage Pre-Approval

BEFORE You Look For Your Next Home

1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use

details you provide about your credit, income, assets and debts to arrive at an estimate of how much

mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been

verified), it does serve as a good indication to potential sellers of your general creditworthiness.

3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are

serious about buying, this is the first step towards getting you in your new home.

An important ingredient in a successful home search is knowing how much you can afford. You don’t want

to fall in love with a property only to find out it’s outside your price range.

Before you contact your Real Estate Agent to book appointments to go and view some properties, it is

highly recommended you talk with your Bank or a Mortgage Broker to get a pre approved mortgage.

That’s why I recommend getting a Mortgage Pre-Approval. This is a document from your bank or other

lender stating how much of a mortgage they are willing to give you. There are several advantages to getting

this pre-approval:

It gives you the peace-of-mind of knowing you can afford homes you view on the market, and
won’t have problems arranging financing.
You know exactly how much you can afford to spend on your new home. There is nothing
worse than finding a home you love only to discover it is beyond your budget.
It’s a sign to sellers that you are a serious, prepared buyer – which gives you the edge when
making an offer.Your rate is then locked in for 90-120 days.
If rates go up in that time period, your rate will remain the same as when you locked it in.
If the rates go down, then your rate will go down too.

You can arrange for a Mortgage Pre-Approval with your bank or other lender, or by working with a

good mortgage broker.

I’m well-connected in the local real estate scene, so if you want me to recommend

a reputable broker or lender, please contact me.

Banks and lenders use specific criteria to determine how much of a mortgage they’re willing to offer

you. They look at your income, expenses, credit history and employment status, as well as the down

payment you plan to make on a home. It may seem like a scary process, but it is actually straightforward.

You can usually get a Mortgage Pre-Approval in a day. You’ll be glad that you did.

By knowing what you can afford, you can confidently shop within that price range. For example, if you

qualify for a $250,000 mortgage, and you have another $100,000 available as a down payment, you can

look for homes in the $350,000 range.

Have questions about arranging financing?

I'm only a phone call, text or email away to assist you.

416-717-6331 | gvalvasori@gmail.com

When you choose me to handle your real estate needs, you are choosing

a real estate professional who:

- cares about you and your family

- will listen to your needs

- work together with you, and

- protect your interests to achieve your objectives