The temperatures outside may be freezing, but Edmonton’s housing market is warming up. With the spring market just around the corner, competition among buyers will soon be strong. If you’re thinking about buying a home this season, there’s one thing you need before you start shopping: a mortgage pre-approval.
Why Is Pre-Approval So Important?
- Realtors Require It: Many realtors won’t even begin working with buyers unless they have a pre-approval letter. The letter proves you’re a serious buyer with the financial backing to make a solid offer.
- Sellers Expect It: Sellers are receiving multiple offers on their properties, and they want to see pre-approval letters before entertaining any bids. It’s a way of filtering out buyers who aren’t ready to move forward.
- You’ll Be Ready to Act Quickly: With homes selling fast, being pre-approved gives you an edge. You’ll know exactly what you can afford and can make an offer without delays.
How Pre-Approval Works
A mortgage pre-approval is a straightforward process where a mortgage broker helps you determine how much you can borrow. It also guarantees your interest rate for up to 120 days, protecting you from potential rate increases as you shop for a home.
If you’re looking to get pre-approved for a mortgage to buy a property in Edmonton, fill out my online application. I’m here to help you every step of the way.
About Jason Scott, Edmonton Mortgage Broker
Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate, I’ll be your trusted partner who will help you get the right mortgage for your family home or Investment property. I’m Jason Scott, and I’ll be your Mortgage Broker in Edmonton.
