{"id":176,"date":"2016-10-24T14:43:46","date_gmt":"2016-10-24T18:43:46","guid":{"rendered":"http:\/\/dev22.604media.com\/DLC_contemporary\/?page_id=176"},"modified":"2026-09-08T18:01:06","modified_gmt":"2026-09-08T22:01:06","slug":"mortgage-pre-approval","status":"publish","type":"page","link":"https:\/\/hosseinfiroozsani.ca\/en\/home-purchase\/mortgage-pre-approval\/","title":{"rendered":"Pre-approval: what it actually guarantees"},"content":{"rendered":"

Before you visit anything, know what you can actually buy.<\/strong><\/p>\n

A pre-approval is a lender reviewing your income, your debts and your credit, and telling you the amount they would be prepared to finance. It gives you a real budget and, in most cases, a rate held for a set period.<\/p>\n

What it gets you<\/h3>\n

A budget based on numbers, not a guess.<\/strong> You stop viewing properties out of reach, and you stop ruling out ones that are within reach.<\/p>\n

A protected rate.<\/strong> Most lenders hold the rate for a set period. If rates rise while you are searching, you keep yours. If they fall, we check again.<\/p>\n

Weight behind your offer.<\/strong> In a market where several buyers compete on the same property, a seller takes seriously the one whose financing is already underway.<\/p>\n

The important nuance:<\/strong> a pre-approval is not a final approval. It rests on the information provided upfront and remains conditional on full verification of your documents and on the appraisal of the property you actually buy. Never sign an offer without a financing condition on the strength of a pre-approval alone.<\/p>\n

What can undo a pre-approval<\/h3>\n

\u2014 Changing jobs or going self-employed between pre-approval and purchase.<\/p>\n

\u2014 Financing a car or furniture while you are searching.<\/p>\n

\u2014 Having your credit checked repeatedly at several institutions.<\/p>\n

\u2014 Moving your down payment into an account whose source cannot be traced.<\/p>\n

\u2014 Buying a property that appraises below the price paid, or a condo whose syndicate is in poor financial health.<\/p>\n

In short: once pre-approved, do not change anything in your financial situation without telling me. A purchase that seems harmless can tip your ratios.<\/p>\n

\n

A pre-approval costs nothing and commits you to nothing. It is the logical first step before you start viewing.<\/p>\n

Get pre-approved<\/a><\/p>\n

or call directly: 514-889-4667<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you are looking for a new home, be sure you are pre-approved. With a mortgage pre-approval, a licensed mortgage professional can do a more complete verification prior to sending you shopping for a home, and with that done, the dollar figure you are going shopping with is actually what you can spend.<\/p>\n","protected":false},"author":1,"featured_media":250,"parent":8,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n