The Benefits of Mortgage Pre-Approval in a Competitive Market

The Benefits of Mortgage Pre-Approval in a Competitive Market

In today’s fast-paced Canadian housing market, mortgage pre-approval can be a game changer. When homes are selling quickly, having your financing in order makes your offer much more attractive to sellers. A mortgage pre-approval provides a clear picture of how much you can afford, locking in your interest rate for up to 120 days. This allows you to confidently shop within your budget, knowing what your monthly payments will look like.

Beyond peace of mind, pre-approval also gives you a competitive edge. Sellers are more likely to choose a buyer who has already been pre-approved, as it shows you’re serious and capable of securing financing. In a bidding war, this can make all the difference in winning your dream home.

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