Mortgage Pre-Approval

“Home Shopping Made Easy”

A mortgage pre-approval is an initial fundamental step in the home buying process that provides you, the prospective buyer, not only a better understanding of your buying power, but also gives your realtor that competitive edge in negotiations.

A mortgage pre-approval allows you to better understanding how much money lenders are willing to lend you. Here at Riley Boychuk Mortgages, we base your mortgage financing off your income, your down payment, any consumer debt, & your credit score. Your mortgage pre-approval is a FREE, no obligation step that secures you with what is called a rate hold, that protects you for up to 120 days, should rates increase. In turn, this allows you to shop for your forever home with a sense of security in not only knowing what your budget is, but also knowing that you are guaranteed a mortgage rate at the agreed upon rate or better.

As stated, your pre-approval is dependent upon your income, down payment, debt, and your credit score. With these three pieces of information, we are able to determine what you can afford based on lender criteria, including your forecasted payments.

It is also important to note that the list of documents required for a pre-approval are the same documents required to buy a home, with exception to the subject property details. This results in a much quicker and fluent process once your offer is accepted.


Below is a recap outlining some of the benefits to getting pre-approved:

  • Lock in a mortgage rate today for up to 120 days to protect you against any increase in interest rates.
  • Better calculate your budget & affordability based off your house hold income.
  • Accurately determine if you can qualify for those homes you have already been looking at.
  • Generate stronger negotiating power for you and your realtor.
  • Better understand the home buying process from start to finish.
  • We can put you in touch with the best in the business from Realtors to Lawyers, Insurance Agents, Home Inspectors, Appraisers, and more.
  • Learn the big picture costs to home ownership before starting the home buying process.
  • It’s FREE!

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