How Do I Get Pre-Approved for a Mortgage?
Before you venture out to look at houses for sale, it is a good idea to meet with your mortgage specialist to complete an application and determine how much you are qualified to borrow. The entire mortgage process can be completed over the phone and electronically, so you do not necessarily need to be in the same community as your mortgage specialist.
At your first appointment, your mortgage specialist will complete a credit application with you. Information you need to have on hand includes: personal data such as your legal name, birthdate, and social insurance number; home address and employment information; a description of your assets that includes what you will use for your down payment; and a list of your outstanding debts (credit cards, loans, etc). Continue reading “MORTGAGE PRE-APPROVAL ~ Crunching the Numbers”