Getting pre-approved for a mortgage

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Welcome home

Buying a home in Stormont, Dundas & Glengarry starts with one important step — getting pre-approved for a mortgage. As a local realtor who’s helped dozens of buyers in SD&G, I know that finding the right mortgage partner is just as important as finding the right home. Here’s everything you need to know to get started.

Ontario Mortgage Calculator (Canada) Canadian semi-annual compounding • Monthly or accelerated bi-weekly
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Disclaimer (Ontario): This tool provides estimates for illustration only and is not financial, legal, or mortgage advice. Calculations use Canadian mortgage conventions (nominal annual rate compounded semi-annually). Results exclude closing costs such as Ontario Land Transfer Tax (and any Toronto Municipal LTT), legal/disbursement fees, appraisal, title insurance, and the 8% Ontario PST payable on mortgage default insurance premiums (PST is paid at closing and not added to the mortgage). Default insurance premiums are estimated for owner-occupied purchases with down payments < 20% (typical CMHC tiers). Rates, rules, and premiums can change. Always confirm figures with a licensed Ontario mortgage professional.

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What Mortgage Pre-Approval Really Means

A mortgage pre-approval is a lender’s written commitment — based on your income, credit, and debt — outlining how much you can borrow and at what rate. In today’s market, being pre-approved before you start shopping gives you an edge. Sellers are more confident, and you can focus on homes that truly fit your price range.

Step 1: Gather your financial documents — pay stubs, tax returns, and proof of employment.


Step 2: Check your credit score.


Step 3: Connect with a trusted mortgage broker or bank (see recommendations below).


Step 4: Receive your pre-approval letter.


Step 5: Start your home search with confidence — knowing your budget and interest rate range.

The 5 Steps to Getting Approved

Mortgage Specialists

Q: How long does mortgage pre-approval take in Ontario?
A: Most lenders can issue a pre-approval within 24–48 hours once all your documents are submitted.

Q: Does pre-approval affect my credit score?
A: Yes, slightly — but it’s minimal and worth it for the clarity it provides.

Q: How long is a mortgage pre-approval valid?
A: Usually 90 to 120 days.

Common Questions