Mortgage Pre-Approval

A lender's conditional commitment, and a rate hold, before you shop.

A pre-approval is a lender's assessment of your verified income, debts, and credit to determine the maximum they may lend and at what rate, usually with a rate hold (commonly 60 to 130 days). It is stronger than an informal pre-qualification, but it is not a guarantee: final approval still depends on the specific property and its appraisal, updated documents, and conditions. Do not change your finances between pre-approval and closing.

General information only, not legal, tax, or financial advice. Rules change and vary by province; confirm the current details with the relevant authority before you rely on them.