Danny Bell
Mortgage Broker - M13001996
Tel: 905-426-4200 | Cell: 289-200-9061 | Fax: 905-426-4201
PRE-APPROVAL
An assessment of your financial situation, indicating the maximum loan amount you qualify for. It helps determine your budget and secures an interest rate hold for up to 120 days. A pre-approval is the first step in the home-buying journey. BUT, it’s not a formal mortgage approval. Changes to the pre-approval could void the rate hold and approval.
APPROVAL
The lender's formal commitment outlining terms and conditions of the loan, confirming they’re willing to provide financing IF the borrower can meet all financing conditions. It’s the final step in the mortgage journey, providing the borrower with the assurance of securing a loan for their home.
*Final approval is subject to meeting lenders eligibility at the time of the purchase with satisfactory:
- Subject property and Purchase Agreement
- Confirmation of income, credit, and debts
- Confirmation of down payment & closing costs
Additional terms and conditions are outlined in the mortgage commitment by the lender
Whether you are first-time buyer or an experienced buyer with excellent credit, The Mortgage Centre has access to the very best products and rates available across Canada. Give us a call… we think you’ll be pleasantly surprised!
Learn MoreThrough training and certification, we have a good understanding of available products, features, and rates. We are here to keep your mortgage moving forward with our Mortgage Market technology, we have electronic access to various major lenders in Canada, so you’re not tied to one lender or one type of mortgage.
Learn MoreWe understand that mortgages can be confusing and intimidating. To help demystify the process, The Mortgage Centre provides a glossary and a variety of free calculators to assist you in researching, and planning your mortgage.
Learn More