Know Your Number Before You Fall in Love With a House.
A pre-approval isn't just a nice-to-have. It tells you exactly what you can borrow, locks in a rate while you shop, and gives you the confidence to make a serious offer when the right property comes up.
Pre-qualification
An informal estimate of how much you might be able to borrow, based on information you provide without verification. Quick but not reliable.
- Based on self-reported figures
- No credit check required
- Not binding on the lender
- Useful for rough budgeting only
- Not accepted as proof of financing
Pre-approval
A verified commitment from a lender confirming the amount they'll lend you, subject to a suitable property. This is what you want before making offers.
- Income and employment verified
- Credit check completed
- Rate held for 90–120 days
- Accepted by real estate agents as proof
- Fast-tracks formal approval on accepted offer
What you'll need for a pre-approval
Getting these documents ready before we start speeds up the process significantly.
Income proof
- Recent pay stubs (last 2–3)
- T4 slips (last 2 years)
- Letter of employment confirming salary and tenure
- T1 Generals + NOA if self-employed
ID and personal
- Government-issued photo ID (2 forms)
- SIN number
- Current address history (2 years)
Assets and liabilities
- Bank statements (last 90 days)
- Investment and RRSP/FHSA account statements
- List of existing debts (car loans, credit cards, student loans)
Pre-approval questions answered
How long does a pre-approval last?
Most lenders hold a pre-approval rate for 90–120 days. If you haven't found a property in that time, we can typically renew it — though the rate may adjust to reflect current market conditions.
Does getting pre-approved affect my credit score?
Yes, but minimally. A pre-approval involves a 'hard' credit inquiry, which may reduce your score by a few points temporarily. The impact is small and short-lived. Avoid applying for new credit during the pre-approval period.
Does a pre-approval guarantee I'll get the mortgage?
A pre-approval is subject to the property meeting lender requirements and your financial situation remaining unchanged. If you change jobs, take on new debt, or the property appraises low, the final approval may differ. I guide you through what to avoid during the process.
Can I get pre-approved with multiple lenders?
You can, but each application triggers a credit check. I handle this strategically — by identifying the best lenders for your situation first, we typically only need one or two applications to achieve a strong pre-approval.
Ready to Get Started?
Fill out a quick application and I'll be in touch within one business day. No commitment, no pressure — just an honest conversation about your options.