Step 2: Submit Your Mortgage Application

By receiving a complete, non-conditional mortgage approval before you apply for your mortgage you can get a better idea of how much you can borrow and, ultimately, how much house you can afford.

When you purchasing a house, you may get pre-qualified or pre-approved. You can typically get pre-qualified through a phone call or through email or online forms in a few minutes. A pre-qualification is not as beneficial as a full, non-conditional approval. With an approval you have to go through a more rigorous process, including verification of your credit, income, assets and liabilities. Not getting a complete approval means that your financing and the security of your mortgage terms and conditions is not really complete. If you have not actually completed conditions of income confirmation, asset confirmation, and other important key components, your mortgage approval is not really worth anything.

An accurate approval will help you:

  • Find out the amount of home value you can afford or the maximum access to funds that you qualify for so that you don’t end up wasting your time looking for properties you can not afford
  • If you are buying, you will be in a stronger position when you are negotiating with the seller because they will know that your mortgage is already approved
  • If refinancing, then this gives you the full mortgage amount and allows you to determine access to funds for investment purchases or closing other debts

Complete your application form today and then arrange your initial consultation with Eva to get your pre-approval!