Mortgage Pre-Approval

Is a fast and Painless first step

Get Pre-Approved For A Mortgage to Show Your Readiness to Purchase; Beat the Competition!
Your options are extensive! Our brokerage have access to multiple major lending institutions across Canada. Whether it's traditional banks' lenders, credit unions, trust companies or private lenders our network of lenders are ready to help the clients we serve. We also source your mortgage default insurance if your down payment is less than 20% of the purchase price.

Ready to speak directly to a mortgage professional?

Looking for the property that's best for you? Knowing how much you can afford and what your payments will be before you start shopping helps to ensure you will focus on finding the home of your dreams within your price range. This will alleviate some unwanted stress. 

The pre-approval process will provide you with a specific dollar amount that you can afford. What's more, lenders and sellers will know you are serious about buying when it’s time to make an offer. In hot real estate markets, a buyer may need to act fast; if the competing buyer has a pre-approved mortgage in hand and you don’t, they win. A pre-approved mortgage is quick and painless. Usually you can get pre-approved within 24 hours with the necessary income verification and supporting paperwork on hand. It’s the right step in your home purchase process.

Get a pre-approved mortgage before you go house hunting! 

Still have questions? Give us a call or send an email.

The Pre-Approval Process

  • 1. Down Payment
  • 2. Documents to Present
  • 3. Credit Score

To avoid mortgage insurance, it’s best to put 20% down for your down payment, which is the initial sum you will put towards your home. Any amount less than 20% will result in you having to purchase mortgage default insurance that will protect your lender in the case you can no longer afford your mortgage.

In order for you to qualify for a mortgage pre-approval, you would need to present the following:

  1. Income confirmation (Job letters, paystubs,T4s)
  2. Current bank account statement (usually at least 3 months)
  3. Notice of Assessments from Canada Revenue Agency (usually or the past two years)

You start with your credit score which will show mortgage brokers lenders how healthy your credit history is and how well you manage your credit. People Banks usually want a minimum score of 680 to qualify for a Pre-approval.


Important Things to Know

Being approved for a mortgage pre-approval doesn’t guarantee that you will be approved for your final mortgage application. Once your offer has been accepted, your lender will either approve or deny your mortgage application after considering the details of your property. If there are certain aspects to the home which the lender finds unsuitable, you may not be approved for the mortgage.

It’s important to note that your CTMS Mortgage Agent advocates for the you; Agents stay in close communications with the lender/underwriter, presenting facts based on information their clients provide and discuss aspects of the listed property details.

Our goal is to get you approved!