One of the biggest mistakes buyers make is starting their home search before getting pre-approved for a mortgage.
A pre-approval helps you understand exactly what you can afford, allowing you to focus on homes that fit your budget and avoid disappointment later. It also gives you a better idea of what neighborhoods, property types, and monthly payments are realistic for your situation.
Another advantage is that mortgage rates can change quickly. Many lenders can hold a rate for 90 to 120 days, which can provide some peace of mind while you shop.
In today’s market, sellers take pre-approved buyers more seriously because it shows you’re prepared and ready to move forward when the right home comes along.
If you’re thinking about buying, getting pre-approved is a great first step before you start touring homes.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.