When I needed a financial consolidation loan, Jesse was great to work with.  He managed to set me up with a new mortgage when my debt to income ratio was too high for the other banks to approve my mortgage needs.  Jesse was very professional and friendly. He thoroughly explained everything to me.  My new mortgage is working smoothly, thanks to him.  I have already referred Jesse’s name to my sister in case she also needs financial help.  Thank you again Jesse.  You’ll be the first one I contact if I need help again.
Mrs. C. Robson
Mortgage Agent Licence #M15002246
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The ins and outs of pre-approvals

When you’re house hunting, it’s a great idea to know the amount of mortgage you qualify for, your monthly payments, and that your interest rate will be held for a specified period of time i.e. 120 days. This way you can shop within your price range, you don’t have to worry about rates rising, and both realtors and sellers will know you’re serious. Be realistic though and make sure you can afford that pre-approved amount; review all of your homeownership expenses and your monthly budget.

Keep in mind that not all pre-approvals are the same, and that a preapproval is not a mortgage approval. Some are just a simple rate guarantee subject to lots of conditions and a later approval. For a full pre-approval you need to submit your application and documentation so the lender can qualify you, and even then it’s a good idea to have a financing condition in your purchase offer because your property will need to be assessed by your lender. Be sure to not make significant changes after getting the preapproval i.e. changing jobs, adding debt or missing payments, co-signing another loan, or using your down payment money.

Contact us today and get off on the right foot in your homebuying journey!


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