First and foremost, you will want to determine if you qualify for financing, and for how much. Your mortgage advisor will answer this for you. Two questions come into play when determining which price range to shop in. First, how much do you qualify for from the lender’s point of view? Second, how much of a payment are you comfortable with? Just because you qualify to borrow a certain amount does not mean you will be comfortable with the payment that accompanies it.

There are two primary ways to achieve an opinion from a mortgage advisor with regards to the maximum price point up to which one should be shopping:

• Pre-Qualification is when one attains that opinion by way of verbally describing to the mortgage advisor their credit, down payment and income situation.
• Pre-Approval is the only way to fully verify this by way of pulling credit and providing that mortgage advisor all requested documentation that proves the above.

Once you have been pre-approved, your mortgage advisor will provide you with a pre-approval letter. It is extremely important that your circumstances do not significantly change after the pre-approval without first conferring with your mortgage advisor.

We have developed strong ties with many reputable mortgage lenders in the area and will assist you by pairing you with one best suited to fit your lending needs.