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A Pre-Approval Does Not Guarantee a Mortgage Approval

Author: External Author | | Categories: Mortgage Broker , Mortgage Industry

Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval.

But the truth is a buyer cannot expect a mortgage pre-approval will automatically translate into a mortgage. The lender now needs to consider the property itself, approve all the terms and review the documentation before you transition from pre-approved to approved.

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Original Article Source Credits: Canadian Mortgage Trends,

Article Written By: Ross Taylor 

Original Article Posted on: 27th April 2021

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