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The pre-qualification for an Alberta
mortgage home loan
means that your lender has reviewed and verified all the
available financial information detailed in your
application and has determined the maximum amount of
financing you can afford. Canada home loans
pre-qualification is different from a simple rate
commitment.
A Canada
discount mortgage commitment is where the
lender guarantees that "if" you qualify for a
mortgage, they will offer the agreed upon interest rate.
Agreeing to an interest rate does not require the lender
to complete the preliminary underwriting while a
pre-qualification does.
In order to complete a Canada
consolidation debt mortgage pre-qualification, the lender will require all of the
information contained in their mortgage application. This
will mean that you will have to provide them with most of
the documentation necessary for a full mortgage approval.
The effort is well worth it as you will then be
assured of Canada
mortgage financing in the pre-qualified
amount.
For the lowest cost
Canadian home loan, click
here.
Another
article of interest is Canadian
reverse mortgage.
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