Share
This is the first post in a series of tips for First Time Home Buyers in Vancouver’s property market.
So you’re thinking of taking the plunge and buying your first home in beautiful Vancouver!
How much can I spend? Get Pre-Approved! (more…)
Posts Tagged ‘Do I Need to go to the Bank before I Buy a Condo’
A Mortgage Pre-Approval is NOT a Guarantee of a Mortgage!
Tuesday, February 2nd, 2010Mortgage Pre-Approvals are NOT Guarantees of a Mortgage!
I recently had the pleasure of interviewing Chad Watts of The Mortgage Group about mortgage pre-approvals. He brought up a very important point for Buyers, particularly First Time Home Buyers. And that is a mortgage pre-approval is NOT a guarantee that you will get a mortgage at the amount the Lender originally mentions or get a mortgage at all.
What is a Mortage Pre-Approval?
This is a preliminary estimation by a Lender of how much the Lender will loan you based on very basic information. This number is subject to change based on what property you (more…)
