What is a mortgage pre-approval?

A mortgage pre-approval is a formal assessment by a lender that estimates how much you may qualify to borrow based on your income, debts, credit history, and down payment.

It typically includes:

• A review of your financial profile

• A maximum purchase price estimate

• A potential interest rate hold (typically 90–120 days, depending on the lender and product)

• A written confirmation you can use when making an offer

While a pre-approval is not a final approval, it provides strong clarity before you begin house hunting.

Why it matters in today's market

Peace of Mind

Shop confidently knowing your real budget.

Stronger Offers

Demonstrate to sellers that you are financially prepared and qualified.

Rate Protection

Demonstrate to sellers that you are financially prepared and qualified.

Faster Process

When you find the right home, much of the financial review is already complete.

Who should get pre-approved?

Pre-approval is ideal if you:

• Plan to buy within the next 3–6 months

• Want clarity before starting your home search

• Are a first-time buyer unsure of your budget

• Want to understand your monthly payment expectations

• Need guidance on down payment requirements

Even if you’re early in the process, pre-approval helps you plan strategically.

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Initial Consultation

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Start online or book a free, no-obligation call to discuss your goals.

Document review

You’ll provide income verification, identification, and details about debts and assets.

Review process

Your credit score, income stability, debt ratios, and down payment are assessed.

Approval confirmation

You receive confirmation of your estimated approval amount and potential rate hold (usually 90–120 days).

How It Works

Curious what your monthly payments could look like?

Use the mortgage calculator to estimate your potential payments based on purchase price, down payment, interest rate, and amortization period. It’s a helpful starting point before your pre-approval consultation.

Ready to Start With Confidence?

Contact

613-864-1822
joseline@mulvalemortgages.com

Joseline Mulvale

Mortgage Agent Level 2

#M24002279

Referral Mortgages

FSRA #13316