What is a pre-approved mortgage and how do I get one?
A Pre-approved Mortgage provides an interest rate guarantee from a lender for a specified period of time (usually 60 to 120 days) and for a set amount of money. The pre-approval is calculated based on information provided by you and is subject to certain conditions being met before the mortgage is finalized. Conditions including: property assessment, an employment letter and income confirmation, and confirmation that down payment is from your own resources. The easiest way to get a Mortgage Pre-approval is by calling/emailing your Mortgage Advantage Mortgage Professional. You will be sent a short Customer Information Form like the one available to download off this website, which will provide a snapshot of your financial situation. The Mortgage Advantage Mortgage Professional will then calculate the size of mortgage you qualify for – this is dependent also upon the property taxes and maintenance charges of the property you intend to purchase. Most Real Estate Professionals will want to
