A preapproval built on verified documents shows your real budget and holds a rate for several months. A quick online estimate does neither, and it carries no weight next to a competing offer.
The maximum isn’t your budget
What a lender approves and what you can live with are rarely the same number. Decide the second one first. The approval is a ceiling, not a target.
Conditions after the offer
Each condition you keep protects you, and each one you drop makes the offer more attractive. Shortening the financing window is usually safer than removing it.
Documents to gather
What the lender will ask for.
Goal of the file
Income and paperwork
Debts and credit
Property or security
Deadline
Lender options
Frequently asked
Which documents should I gather?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment. Have them before the offer and a five-day financing condition is workable. Have them after, and the weeks add up.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
