Mortgage pre qualification is the term often used when the information has been provided by a borrower but is not yet verified. Your information is entered into the computer and based on that data, your mortgage professional will tell you how much of a home you can afford. It’s possible that your credit has not even been pulled depending on who you meet with. The problem here is that without a full suite of documents to examine and a close look at your credit bureau, your mortgage professional is not able to address any potential issues which may come up. For example, in today’s busy market, you may end up in a bidding war with another buyer which could result in a shorter financing period. You could lose the house of your dreams if an issue with your financing arises after a real application is taken. So how can you avoid this? Get a real mortgage pre-approval. That’s how.
First Time Home Buyer/Pre-Approval
Calgary mortgage broker providing mortgage services in Calgary AB > First Time Home Buyer/Pre-Approval