Pre-Approval Mortgage


Apply for a pre-approval mortgage ahead of time so you will know how much you can afford and what your payments will be before you start looking. Knowing how much you can afford before you start shopping around helps to ensure you will focus on finding the home of your dreams within your price range.

This process will provide you with a specific dollar amount that you can afford. Lenders and sellers will know you are serious about buying when it’s time to make an offer. In hot real estate markets, a buyer may need to act fast; if the competing buyer has a pre-approved mortgage in hand and you don’t, they win.

A pre-approved mortgage is quick and painless. Usually you can get pre-approved within 24 hours with the necessary income verification and supporting paperwork on hand. It’s the right step in your home purchase process.

Get a pre-approved mortgage before you go house hunting! CTMS serves Pickering, Ajax, Whitby the rest of Durham, GTA and surrounding areas.

Still have questions? Give us a call or send an email.

The Pre-Approval Process

  1. Credit Score: You start with your credit score which will show mortgage brokers lenders how healthy your credit history is and how well you manage your credit. People Banks usually want a minimum score of 680 to qualify for a Pre-approval.
  2. Down Payment: To avoid mortgage insurance, it’s best to put 20% down for your down payment, which is the initial sum you will put towards your home. Any amount less than 20% will result in you having to purchase mortgage default insurance that will protect your lender in the case you can no longer afford your mortgage.
  3. Documents to Present: In order for you to qualify for a mortgage pre-approval, you would need to present the following:
    1. Income confirmation (Job letters, paystubs,T4s)
    2. Current bank account statement (usually at least 3 months)
    3. Notice of Assessments from Canada Revenue Agency (usually or the past two years)

Important Things to Know

  • Being approved for a mortgage pre-approval doesn’t guarantee that you will be approved for your final mortgage application. Once your offer has been accepted, your lender will either approve or deny your mortgage application after considering the details of your property. If there are certain aspects to the home which the lender finds unsuitable, you may not be approved for the mortgage.
  • It’s also important to note that just because your credit score isn’t high enough to get a pre-approval doesn’t mean you won’t be approved for your final mortgage application. If in doubt always consult a mortgage professional.


  • After speaking with several Brokers, my wife and I found that Steve Bryan at Mortgage Alliance was the right broker to handle our mortgage situation. He was highly professional, proactive, knowledgeable and patient. Steve and his associates followed up regularly, and took the time to explain all the pros and cons, this allowed us to make the best decision for our family. They work swift and accurate, wrapping up all of our matters within a couple of weeks. We would definitely contact Steve Bryan for any future mortgage concerns and recommend anyone looking for mortgage services to his brokerage.

    — Peabo & Sabrina S.
  • Referring u to friends/family is easy. I am picky and you addressed all my questions/concerns in a timely and professional manner. You were also extremely knowledgeable and provided me with some key information that assisted me in getting a property that meets all my needs by telling me about the home improvement loan from the bank.

    — Sophia
  • I have known Steve Bryan for the past three years …

    At our meeting I told him I was looking for a second mortgage on my home, he explained the steps involved in the process with great clarity he was very articulate, professional and effective. Steve was able to secure the mortgage with B2B bank at a reasonable interest rate and to my satisfaction.

    What I appreciated most was Steve’s dedication, commitment and driving results, I will recommend him to anyone in the future.

    — Judith D
  • If you’re looking for someone that will work for you and have your best interests at heart your search stops here. Steve fights for his clients to the end and never gives up on a deal until he gets it done. Thank you Steve.

    — Shelley D
  • We were recommend to Steve by a family friend and he was very professional and took the time out to lets us understand the pros and cons for what we wanted to do. When we decided what we wanted to do he gave us the best option. He’s patient and he makes sure you have all required documents before proceeding. I would recommend him to everyone.

    — Damian H


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