It’s time for another Mortgage Minute with John Chrisanthidis!

Before shopping for a new home, consider a mortgage pre-approval. This will tell you how much you qualify for and what your mortgage payments will be so you'll know exactly what you can afford. Also, you’ll get an interest rate that will be held for a specific time period, such as 120 days.

Keep in mind that a pre-approval isn’t a mortgage approval. Think about having a financing condition in place when purchasing because your property needs to be assessed by your lender during the mortgage approval process. You’ll have to provide the necessary information such as the offer to purchase, MLS listing, and any other documents required by the lender so they can assess the property.

Additionally, any planned financing might fall through if your circumstances change. So be careful with changing jobs, adding debt or missing payments, co-signing another loan, or using your down payment money elsewhere.

If you're interested in learning more about the mortgage pre-approval process, our mortgage broker, John Chrisanthidis, for expert guidance.

John Chrisanthidis, Mortgage Broker (FSCO Lic. M08001294 Mortgage Intelligence FSCO Lic. 10428)

✉️ [email protected]

☎️ 416-890-1365