Mortgage pre-qualification is generally a quick, simple process. You provide a mortgage lender personal financial information, including your income, debt and assets. Based on your information, the lender will give you a tentative assessment as to how much they’d be willing to lend you toward a home purchase. Pre-qualification can usually be done over the phone(1 888 813 3914) or online and often at no cost. A pre-qualification is not a guaranteed loan. With the help of our agents, you'll get a personalized calculation of the purchase price you may be able to afford - it only takes a few minutes and won't affect your credit score.

Mortgage pre-approval is a more significant milestone in the process because a lender is actually checking your credit and verifying your financial information. If you’re pre-approved, a lender is making an actual commitment (subject to conditions such as a property valuation) to loan you money. Pre-approval is not necessarily a guarantee that you will receive a specific rate or mortgage from that lender because circumstances may change from the time you get-pre-approved until the time you’re ready to make a purchase.