By obtaining a pre-approval, you can speed up the process of securing a mortgage loan drastically. When you get pre-approved for a loan, you will generally have a lender review your income and credit information in advance and then they will provide a scribed statement that denotes how much you would be eligible to borrow.
The pre-approval process takes only about 24 hours when you can produce all the appropriate proof of income and other required documents readily available. There are many benefits that you can obtain from a mortgage pre-approval. Here are a few points that would help you understand the benefits better.
To Speak directly about your specific situation and requirements, please contact me directly. Alternatively, you can get the ball rolling by applying directly here on our website. Please enter as much information as you can, agree to the terms and send. It comes to me directly giving me the opportunity to review and have a more informed discussion with you. The application process also provides us with a "soft touch" of your credit bureau without affecting your rating but allowing us to paint a better picture of your specific situation. Download our "MOPOLO" App here which provides access to Mortgage Alliances many tools including creating your profile, Credit applications, current mortgage rates, financial calculators, know your credit score every month, and important updates on the market.
The Mortgage Pre-approval amount is the maximum you may get. It does not guarantee that you'll get a mortgage loan for that amount. The approved mortgage amount from your Mortgage Company will depend on the value of your home and the amount of your down payment. It may be a good idea to also look at properties in a lower price range so that you don’t stretch your budget to its limit.
With a pre-approval, you can:
There are several benefits to getting a Pre-Approval before you start searching for your next home.
ChathamCopyright © 2018 Mortgage Alliance / Jim Paisiovich All Rights Reserved.
Chatham: 234 Queen Street, N7M 2H1 / London: 561 Southdale Road E, N6E 3M7
Mortgage Alliance Head Office: 2005-200 Sheppard Ave. E. Toronto, ON M2J 5B4 | Lic. 10530 | Toll Free: 877.366.3487