what is a pre approval mortgage?

Author: Boychuk Mortgage Group |

  • A true pre-approval is not one that is done on an online pre-approval app or calculator. These options though are a great general tool, they do not address many of the underlining components that ensure accuracy when securing mortgage financing.
  • A true pre-approval requires submitting an application, pulling your credit, & submitting supporting documentation to your trusted mortgage advisor.
  • At Boychuk Mortgage Group, your pre-approval includes a one-on-one success planning session to help educate you & to create a long-term mortgage & wealth strategy!
  • We consider our pre-approvals a guaranteed stamp of approval as we have done the proper due diligence to protect your best interest, in advance of shopping.
  • Pre-approvals are a free, no obligation step, put in place to help you understand your unique borrowing power before starting the home buying process with your realtor.
  • Your pre-approval rate will be held for 120 days (sometimes more), protecting you should rates rise. This comes with a guaranteed best rate at time of submission.
  • Understanding your borrowing power at the time of offer, not only provides you with the upper hand in negotiations, but it gives you the confidence needed to act.