Triston Rans - Calgary Mortgage Associate

Mortgage Pre-Approval

Why get mortgage pre-approval?

Obtaining a proper mortgage pre-approval prior to beginning your house hunt is extremely important as it determines the maximum mortgage amount that you will qualify for. This enables you to shop in your appropriate price range, and saves time in the negotiation process. It will also hold the interest rate for 90-120 days, guarding you against rate fluctuation. If interest rates go up from the time you get mortgage pre-approval to the time you make an offer you will get the lower interest rate you were quoted. Should interest rates go down in that time period you still have the flexibility to lock in at a lower interest rate, ultimately providing peace of mind during the home-buying process.

Mortgage pre-approval is fast, easy and FREE. Get quick mortgage pre-approval by contacting Triston now or by filling out a short online mortgage pre-approval application. In most cases you can be pre-approved for a mortgage within 2 hours.

Pre-Approved Mortgage vs. Pre-Qualified Mortgage

“Pre-Qualified Mortgage” means that someone – including yourself – has taken a general look at your income versus expenses and plugged them in to a debt-to-income ratio formula. Pre-qualifying before you start looking for a home gives you a general idea of what you can afford. It will not, however, lock-in an interest rate for you and does not typically include an analysis of your credit report or an in-depth look at your true ability to buy a home.

When you are “pre-approved” for a mortgage, it means a mortgage professional has looked closely at both your credit report and your income. They can determine that you actually qualify for the loan, the maximum mortgage amount, which programs you qualify for, and discuss the interest rates offered for different types of loans. At this time, you will be asked to provide documents to verify your application information including income and potential down payment confirmation. Once pre-approved, you can start shopping for a home with confidence about your buying power. However it still isn’t a guarantee that the lender will approve the loan.

Apply Now!

Get pre-approved for a mortgage today by calling Triston Rans at 1-403-571-8142 x237 or apply for mortgage pre-approval online here.

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