Purchasing a home is an exciting life decision. For most Canadians their home is their largest asset. There is more to a home than just a mortgage payment, and being pre-approved will ensure that you’ve taken into account all of the extras that home ownership entails.
Often times people get caught up in the excitement of purchasing a home that they forget to determine what they qualify for. Qualifying for a mortgage is an easy and essential step to ensure that you are looking in the right direction. Over extending your finances will leave you mortgage poor and unable to accommodate life’s unforeseen expenses.