Pre-Approved Mortgages in Oakville
Make your search for a new home easier and faster with a mortgage pre-approval. eMortgage Solutions's specialized mortgage brokers offer the service and expertise you need to streamline your mortgage process.
With years of experience in the industry, we work alongside countless lenders to find the best options for you. We'll show you through the pre-qualification, pre-approval, and application process. Shop the market confidently by enlisting our mortgage help.
Contact us today at (416) 258-0156 to schedule a mortgage consultation.
What Is a Pre-Approved Mortgage?
While many people think the journey towards homeownership begins in a realtor's office, the reality is that it begins in a mortgage broker's office. When you apply for a mortgage, you'll be given a conditional written statement from a lender known as a mortgage pre-approval. The pre-approval will indicate how much of a loan you qualify for, the length of the term, interest rate, and payment frequency. With a mortgage pre-approval, you can search for properties specifically within your price range and preview your financial future.
What's the Difference Between Pre-Approved and Pre-Qualified Mortgage?
The two are essentially different steps of the same process. Pre-qualifying serves as the first step to a mortgage application while being pre-approval is the second.
A pre-qualification doesn't require a full application, just a few figures, and necessary information. The estimate you receive is just an approximate loan. A pre-approval necessitates a full application and results in an exact conditional amount being offered as well as a locked-in interest rate.
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Do Mortgage Pre-Approvals Affect Credit Score?
When seeking qualification for a mortgage, your credit information will be pulled via a soft inquiry. This information will only be seen by yourself and the lender.
When you follow through with the application process, your financial standing can certainly affect your credit score.
Learn what you need to get pre-approved for a mortgage. Set up a consultation and will help speed up the process.
What Should I Do Before Getting Pre-Approved for a Mortgage?
It is always advisable to have your finances in excellent standing when you are considering taking out a mortgage.
Pay off (or pay down) any outstanding debts and optimize your debt-to-income ratio. You'll also need to verify various criteria, such as proof of income and employment. With our help, we will get you through the pre-approval process and facilitate the quest for a new home.
When Should I Get Pre-Approved for a Mortgage?
As soon as you begin searching for a new home! Mortgage pre-approval is the first "green light" in the mortgage process, allowing you to move forward with your search. A mortgage pre-approval allows you to search efficiently and streamlines the search and offer process.
How Long Do Pre-Approved Mortgages Last?
Depending on the lender, a mortgage pre-approval is considered valid between 60 to 120 days. This includes locked-in interest rates.
Schedule your consultation today to discuss all your options.
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We Can Help with the Pre-Approval Process
Let eMortgage Solutions be your guide in the mortgage pre-approval process. Our skillful brokers present the best options for your situation, recommending a wide range of lenders to find the best mortgage products and plans for you.
You can depend on our experience and expertise to get you closer to homeownership.