How to Get Pre-Approved for a Mortgage in British Columbia

Mortgage pre-approval is a key first step when buying a home in BC. It tells you how much you can afford, strengthens your offer, and signals to sellers that you’re serious. Here's what you need to know.

🔍 What is Mortgage Pre-Approval?

A mortgage pre-approval is a lender’s written commitment that outlines how much money you can borrow based on your current financial profile. It’s different from a pre-qualification — which is just a rough estimate.

📋 What Do Lenders Look At?

✅ Your income and employment history
✅ Credit score and report
✅ Outstanding debts and monthly obligations
✅ Down payment amount and savings
✅ Assets and liabilities

📁 What Documents Will You Need?

✅ Government-issued ID
✅ Proof of income (pay stubs, T4s)
✅ Bank statements
✅ Employment letter
✅ Details of debts (credit cards, loans)

🔗 Useful Resources

To explore more on mortgage pre-approval and insurance, visit:
CMHC - Mortgage Loan Insurance
Government of Canada - Pre-Approval Guide

🏡 Ready to Start Your Home Search?

Once you're pre-approved, you can confidently start exploring listings within your budget. Be sure to connect with your bank or a licensed mortgage broker to review your options and get expert guidance tailored to your needs.

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