Posts tagged Mortgage Pre-Approval
What is a Mortgage Pre-Approval?

Do You Know the Difference Between a Pre-Approval & A Quick Qualifier?

Many people go out home-hunting without even having spoken with their bank or mortgage broker!

Sometimes people go online and punch in their numbers for a Quick Qualifier, the problem with this is there are no supporting documents that the bank certainly will ask for at some point!

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What Does The Home Buying Process Look Like?

For some people taking the first step in the buying process is the scariest.

Fear of the unknown might outweigh the excitement of the prospect of having your own place

The best way to feel in control of the outcome is to educate yourself as much as possible about the process, all costs involved & your realistic requirements.

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Knowing How to Budget for Home Ownership

While many people focus solely on the mortgage pre-approval & application process to base their financial real estate decisions off of, it’s important to remember that this number doesn’t fully encapsulate the extent of your home-buying budget.

A mortgage pre-approval tells you how much you’ve been approved for by the bank/lender, which is quite different from the amount you can actually afford in your monthly budget!

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How to Get Pre-Approved for a Mortgage

Getting pre-approved for a mortgage can be one of the most important preparatory steps you can take before beginning your property search for several reasons! 

A pre-approval will essentially tell you the price range of how much you have been approved for by your bank or lender which allows you to focus your search on properties that you can actually afford. 

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