Whether you are buying your first home, moving to a different home or purchasing an investment property, your first step is to get pre-approved for mortgage financing.

Getting pre-approved for a mortgage before home hunting is important for several reasons:

How to get pre-approved for a mortgage

I recommend using a mortgage broker to get your pre-approval started.  Much like a Realtor works for you to find the perfect home, a mortgage broker works for you to find the best mortgage for your situation.

What does a mortgage broker do
Mortgages can be complex.  A mortgage broker can help you in a number of ways including:

How much do mortgage brokers charge
Another similarity between using a Realtor to help you find your home, and using a mortgage broker to find the best mortgage for you is that a mortgage broker's service are, in most cases, completely free.  Although the mortgage broker works for you, they are paid a commission from the lender (bank, credit union etc.) for introducing you to their mortgage products.

The mortgage pre-approval process
The process for getting pre-approved for mortgage financing typically looks like this:

How long does mortgage pre approval take?
After you have provided your documents to the mortgage broker, the pre-approval process may take as little as one to three days.  I generally tell people it will take one week - this helps reduce some of the anxiaty while waiting for the approval to come back.  Once you are pre-approved, you will receive a pre-approval letter.  Be sure to have this available for your Realtor to view as well.

I can help you.  Feel free to contact me directly and I'll walk you through the mortgage pre-approval process.  Once we get that sorted out, the real fun can start - finding you your new home.

Robert McLean