Deciding to buy a new home? The very first thing to do before buying a home is getting pre-approved mortgage for that. A pre-approved mortgage will give you an estimate on the amount of money that you can be spent on your home. A good thing about pre-approval is that the lender will check your credit score and verity all your documents in advance for the approval of specific amount of loan.
In order to apply for a pre-approved mortgage, all you need are the following documents
- Proof of your income that includes any bonuses or alimony and tax returns for two recent years
- Proof of your bank statements to show you have enough funds to pay your down payments
- Good credit score
- Verification of our employment and salary
- Other documents such as driver’s license and SIN (Social Security Number)
Consult Ontario Mortgage Expert advisors to get approved for your pre-approved mortgage.