Our goal is to make the entire pre-approval process as smooth as possible. The first step is reviewing all of the important details that will be reviewed once you have an accepted offer in on a home. Once you have an accepted offer you are only given 5 business days to confirm that you have your mortgage approval completely in place and ready. Through the years we have found that our clients prefer to be prepared. We closely review your application the same way the bank and CMHC will, for anything that could be a concern to a potential lender. We request all income documents, downpayment proof and any other documentation we know the lender will require up front. This allows us to ensure the information you have provided is exactly what the lender will accept. It also allows us to move quickly once you have an accepted offer. In life things often happen all at once . You may find the home of your dreams all while working, rushing your children to their sports, or preparing for a vacation.
When your file is 100% prepared it puts you in a position to allow us to work behind the scenes for you and have your approval in place in a much shorter time line.
Your credit score is a huge determining factor on your pre-approval figures. The higher the score the higher pre-approval we can grant. If your credit is not reviewed in detail it can affect your approval success. Reviewing the credit at time or pre-approval also allows us to provide you any advice or guidance you may need to strengthen your file before you find your home.
We submit your file to be ratelocked by our lenders. This allows us to lock in market low rate for 120 days while you are enjoying your house hunt. If rates go down we can offer you the lower rates and if rates increase you are safe with the rate lock in place.