Mortgage Approval Types in Canada
In this section, we will cover the different types of mortgage approvals that we can assist you with. Navigating the mortgage approval process can be challenging. Whether you’re venturing into the market for a new home, considering a refinance of your current one, or contemplating a switch in lenders, a clear understanding of this process is key. Let’s simplify this complex process for you, making your mortgage journey easier to manage.
For more detailed information on each type, please click on the links below to visit their respective pages. There are two types of approvals:
The process for both pre-approvals and approvals is similar, with one key difference: pre-approvals are obtained before property shopping, while approvals are granted when you have an offer to purchase a specific property, or when you already own a property and wish to refinance, renew, switch lenders, and so on.
If you are interested in finding out if you qualify for mortgage financing, and for how much, be sure to speak with a mortgage broker to learn more about your options. We are available to answer any questions that you may have.