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Andre Tsopelas

Sales Representative
Mobile: (416) 528-6453

Bayview

1739 Bayview Avenue,
Toronto ON
M4G3C1
CA

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Get Pre-Approved

 

If you have any questions or would like more helpful information on anything don't hesitate to Contact Me or visit my Buyers Page or Sellers Page. If you would like more information on Toronto visit my About Toronto page, my Toronto Culture & Tourism page or my Toronto Education page.

Most mortgage lenders take the guess work out of applying for a loan by figuring out for you the amount you can afford to borrow. Then, they give you a printed document stating the maximum mortgage amount you qualify for based on your particular finances and income.

Mortgage pre-approval establishes your price range and strengthens your buying position by letting the Seller know that you have already been approved for the loan. It can also ease time constraints once the purchase agreement in signed between Buyer and Seller.

 

Consider these Scenarios:

You're out looking at homes. Your Real Estate Broker never mentions that you should get pre-approved and just ballparks what you can afford. Of course, the more house he shows you, the better he usually comes out. You find the perfect house and work out a deal with the Seller. Three weeks later, the lender informs you that the house is $10,000 over what you qualify for and does not approve your loan. The Seller has already bought another house. You've given notice where you're renting and told all your friends about the great house you bought. And then, there's the money you've already spent on inspections on a house you can't own.

You and your REALTOR® have been working diligently finding that "perfect" home. A new listing comes on the market that's priced right and has got everything you've been looking for. You write an offer. Your REALTOR® takes it to the listing REALTOR® and is informed that another offer is coming in and will have to present both offers simultaneously to the Seller. The other Buyer is pre-approved for his loan. Whose offer do you think the Seller will negotiate first??

Should You Get Pre-Approved for a Loan First??

Most Definitely!!

For more information on getting pre-approved let me know.

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RE/MAX Ultimate Brokerage Inc., Independently Owned and Operated | Residential Real Estate | Luxury Real Estate | Commercial Real Estate
RE/MAX Ultimate Realty Inc., Brokerage
1739 Bayview Avenue
Toronto ON  M4G3C1
(416) 487-5131
Real Estate License # 4752522