start your house-hunting journey with a mortgage pre-approval

Before you get your heart set on a house, you need to figure out how much you can afford. The best way to do that is to get a mortgage pre-approval. While getting pre-approved is not required, we highly recommend it as it will make your home buying process much easier. Plus, it’s free!

 

The advantages of a mortgage pre-approval are:

  • Peace of mind in knowing your financing is already in place.
  • Ability to negotiate a price that fits within your budget.
  • Locks in an interest rate for 120 days.
  • More appealing to sellers.
  • Faster closing period.

How to get a mortgage pre-approval

 

To get your mortgage pre-approval, one of our lending associates will evaluate your finances to determine the size of the mortgage you can manage (it’s all about the numbers). Find a branch near you and visit a lender today (no appointment needed!).

 

Here’s what you’ll need:

  • Two pieces of ID (if you’re not a Sunova member yet)
  • Proof of employment and income
  • A list of current assets
    • investments: RRSPs, GICs, TFSAs mutual funds, etc.
    • real estate: Property Tax assessment, value of your home
    • vehicles: make, model and trim of your vehicles (including recreational vehicles)
  • A list of liabilities
    • hydro payment
    • mortgage amount (starting and current)
    • annual property tax payment
    • home equity line of credit amount
    • monthly rent
    • outstanding loan and line of credit balances
    • credit card balances
    • value of any loans in which you are a co-signer
  • Confirmation of your down payment

 

have questions?

Help HQ is here to, well, help! Our Help HQ staff are available during following hours:

 

Monday – Friday 8:00 am – 8:00 pm

Saturday 8:00 am – 4:00 pm

 

Give them a call 1.833.378.6682, send a text 1.204.813.5786 or start a chat session!

 

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