Beware the Mortgage Pre Approval

All Lenders are not created equal... neither are their pre approvals.

Less than 10% of Lenders actually do a full approval for the pre approval process, consequently your pre approval may be worthless.

Why is this?

A full approval takes a lot more work. Lenders realize that with pre approvals most people are just shopping around so they don't bother committing to the process until you come back with an Offer to Purchase.

How can I tell if I am getting the FULL Pre Approval?

Unless you have been asked to provide tax returns, a letter of employment, T-4 and unless you know the Lender has performed a credit check then your pre approval may be worthless.

There are few things as disappointing as finally finding the property of your dreams only to have your deal fall through because you couldn't get the financing in time (or at all).

Don't let this happen to you. Make sure when applying for a pre approval you are listening carefully. There are more to mortgages than the best rate. Find someone who will go the extra mile for you.

If you are interested in having a FULL Pre Approval Lender contact you then please fill in the form below.