How Much Can You Afford? Mortgage Pre-Approvals
Knowing what you can afford before you shop for a home can save time, disappointment, and money. That’s why getting pre-approved is one of the smartest first steps in your homebuying journey.
Here’s what you need to know about mortgage pre-approvals — and how Maximum Mortgage can help.
🧾 What Is a Pre-Approval?
A mortgage pre-approval is a written estimate from a lender or a mortgage broker, stating how much you can borrow and on some pre-approvals lock in a rate. It’s not a guarantee, but it’s the next best thing — and gives you serious buyer status with sellers.
📊 What Lenders Look At
During pre-approval, lenders assess:
- Income (job stability, salary, self-employment)
- Credit score and history
- Debt servicing ratios
- Down payment amount
💡 Why Get Pre-Approved?
- Know your budget before you start shopping
- Avoid surprises during financing
- Lock in a rate (often for 90–120 days)
- Strengthen your offer in competitive markets
🤝 Work with Maximum Mortgage for a Smooth Start
We take care of assessing your mortgage affordability, so you can start your home search with confidence.
