Miranda Karl,
Mortgage Professional

Let Me Earn Your (Pre-)Approval

Why take chances applying for the mortgage you want? Getting pre-approved should be an exclamation point, not a question mark. Having me on your side takes the uncertainty out of the equation when you apply, giving you the best chance of getting your ideal mortgage!

Easy as 1, 2, 3

Here’s How it Works

I work hard to help you apply for your mortgage, but it all boils down to three basic steps. Here’s what happens when you hire me for help getting pre-approved:

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Step 1: Establishing Your Needs

Before we do anything else, I need to know about you. What are your goals, and what are you prepared to do to accomplish them? Do you want to:

Save money in the long run?
Reduce the interest you’ll pay?
Get the lowest monthly payments possible?

We’ll also talk about what kind of a deposit you’re able to put down and other critical information. Then I’ll show you suitable mortgage options you’re likely to get approved for.

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Step 2: Completing the Application

Now you’ve got a decision to make. We’ll go through each of your mortgage options together so I can help you weigh the pros and cons. Then you’ll make the final call and we’ll complete your application. I’ll help you:

Gather the required documentation
Understand specific legal and financial terminology in your application
Review the application before submitting to make sure nothing is missing

The required documentation for a mortgage application can be extensive, so getting support from a professional is vital if you want to make sure everything’s there. Luckily for you, I’ve done this before, and I know exactly what to look for.

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Step 3: Pre-Approval & Beyond

Once your application’s been submitted, I’ll be there to answer your questions and help procure any additional information your lender needs. If all goes well, I’ll submit additional documentation on your behalf, such as:

An appraisal
Proof of income
Proof of down payment

I’ll be available throughout the whole process—and will check in with you to ensure everything proceeds smoothly until the deal is done.

Ready to Go?

Get Started

Contact Me

Got More Questions?

FAQ

It’s normal to have questions when you’re investing in your future. Find the answers you need about mortgage pre-approval below:

Why do I need a mortgage pre-approval?

Mortgage pre-approval shows your lender that you’re ready to make a serious financial commitment. This reduces their perceived risk, which potentially helps you get better deals and lock in the rate you want.

How long does a mortgage pre-approval take?

Mortgage pre-approval can be completed in as little as one hour if you’ve organized your documents ahead of time. During our first phone call, I’ll let you know exactly what documents you need to provide to make the process as quick and painless as possible.

What happens during pre-approval for a mortgage?

Before I submit your application for pre-approval to the lender, I’ll determine how much of a mortgage you can afford and choose the rate that suits you best. Then the lender will review the details and confirm them so you can continue with the process.

How much does it cost?

Good news—your application won’t cost you a thing. I get paid by the lender after each transaction is complete. If you don’t get funding or end up using my services, you won’t be out of pocket at all.

What will my mortgage rate be?

When you first apply, your mortgage interest rate is primarily determined by how much risk your lender faces. This depends on numerous other factors, including how much of the home’s value your mortgage will cover, your credit score, and the size of your down payment.

How much can I get for a mortgage?

The size of the mortgage you’re able to get generally depends on:

Your total gross household income per year
How much debt you have (including consumer debt and other loans)
How large your down payment is
Your monthly condo fees (if you’re buying a condo)

Will I be approved if my credit score is low?

Most Canadian banks will require you to have a credit score of at least 600 to apply for a mortgage—and the Canada Mortgage and Housing Corporation (CMHC) requires you to have a score of at least 680.

There are some mortgage options for borrowers with low credit scores, but these may come with higher interest rates and other less desirable terms because of the relatively high risk to the lender. When you contact me for help, we’ll discuss your credit score and how it can affect your mortgage pre-approval.

Why would a mortgage pre-approval be denied?

Mortgage pre-approvals can be denied for several reasons, including:

A household income that does not meet the lender’s criteria
A credit score that is too low
Employment history that raises concerns for the lender and increases their risk

When you work with me, we’ll go over your information to look for these red flags. Together, we’ll ensure that you have the best chance of being pre-approved for the mortgage you want.

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