Mortgage2Go: Good to go, before you know

In addition to many benefits, a pre-checked mortgage brings security:

• You save time when searching for a house by only looking at houses that fit within your budget.
• You get a clear picture of your monthly payments.
• Realtors can serve you better because they are 100% sure you are a serious buyer.
• When you make an offer, the seller may be more inclined to consider it seriously because you have solid financial backing.
• Your pre-checked financial status can give you more bargaining power with a seller.
• Some lenders can offer you a fixed interest rate, so you don’t have to worry about rising interest rates while you search for a new home.

It costs you nothing and you are under no obligation to accept the mortgage.

1. Collect your documents

• Proof of income: annual statement, pay stub
• Proof of employment status: letter of intent, (un)fixed-term contract
• (BKR) Credit status
• Proof of ownership: bank records, savings account, etc.
• ID: passport, driver’s license, social security number

2. Knowing when to ask for pre-checked

Applying for a pre-checked status, starts you before your house hunting begins. Knowing for sure how much mortgage you can apply for will help you have an increased chance of succeeding in the housing market.

3. Check your credit status

Like any mortgage application, your credit rating will be looked at. Prepare in advance and check your credit status to avoid unpleasant situations.

4. Get your certificate

When your mortgage application is checked, you will receive a certificate equal to the value of the mortgage amount. Without the certificate, you cannot go house hunting.

5. Know how long the pre-check is valid

The pre-checked mortgage does not last forever. Check or verify how long the check is valid. That way you know how much time you have to find and buy your dream home.

You are not obligated to accept a mortgage by getting pre-checked, but you do want to agree to the amount and terms of the pre-checked mortgage.

It is essential that you look at all your personal expenses and have a good idea of your future expenses before talking to a mortgage broker or lender about approval.

Consult a mortgage broker if you have questions about the approval process or start your status checked online now

Getting pre-checked for a mortgage means that you can be sure of financing early on. Then, with our mortgage certificate, you can set out to buy your ideal home.

Work with a mortgage broker who can guide you through the approval process.

After you select a mortgage broker:

• Are you and your mortgage specialist going to discuss your financial strategy and needs, such as maximum mortgage amount, monthly payments, purchase price, and so on.

• Teach you about the different mortgage options (fixed versus variable rates, interest rate terms, repayment options, etc.) and discuss which mortgage best suits your needs.

• With your permission, your mortgage specialist will submit an application, requiring you to provide details such as your work situation, income, assets and liabilities.

• You authorize the lender to request a credit report.

• Your mortgage advisor will advise you on the documentation (including income statement, etc.) you need to provide to get your financial status checked. All conditions must be met before your mortgage is fully approved.

An advance approval is contingent on a good credit rating and is usually valid for 60, 90 or 120 days, depending on the lender.