John Antle | Beyond the Bank

Your Kelowna Mortgage Broker

The Mortgage Pre-Approval Process: John Antle Can Help

Before you start house hunting, contact John Antle to make sure you can get pre-approved for the mortgage amount you need. Even if you have an acceptable credit score, established credit history and healthy bank accounts, getting mortgage pre-qualification is always recommended.

How Does a Pre-Approved Mortgage Help?

Getting mortgage pre-approval confirms three central elements:


The maximum home price you can afford

The monthly payments associated with this purchase price

The interest rate and terms for your new mortgage

Frequently Asked Questions About Pre-Approved Mortgage Loans

What is the cost for mortgage pre-approval?

Both the advice and pre-approved mortgage you will receive is free of charge.e.

What terms are available for my pre-approved mortgage?

You may choose pre-approved mortgage terms ranging from six months to 10 years.

If I apply for a pre-approved mortgage, am I committed to that lender?

Your John Antle Mortgage Specialist will ensure that you get pre-approved for a mortgage with the best lender and mortgage rate for your situation. If you decide to change lenders, your mortgage broker will help you with this adjustment.

Will CMHC or Genworth also review my pre-approved mortgage?

This is a question that is quite common. CMHC or Genworth (two popular default insurance options) will review your information along with the details on the home you are purchasing after the real estate contract is negotiated by real estate agents and signed by both the seller and buyer. That is the reason that your real estate professional will include a “subject to financing” clause on your real estate contract, even with a pre-approved mortgage. Default insurance is required for any purchases in Canada with less than 20% of the purchase price as a down payment.

How long is the pre-approved mortgage guaranteed for?

The interest rate and pre-approved mortgage will normally be guaranteed for a minimum of 120 days. If interest rates rise during this time, the lender will honor the lower rate. If the interest rates decrease during this time, the lender will also adjust accordingly.

If I have been pre-approved for a mortgage, will this help my real estate agent?

Yes, a pre-approved mortgage will assist real estate agents, as they will be able to focus on the purchase price that you have been pre-approved for and facilitate the negotiation process. It is important to note that a pre-approved mortgage will need to be reviewed by your lender in order to provide you with a final mortgage approval. The lender will also consider the property you wish to purchase along with other monthly costs pertaining to this purchase, such as property taxes or condo fees.

How long of a proceI expect when applying for a pre-approved mortgage?

In some cases, a pre-approved mortgage can be confirmed immediately. Contact a John Antle Mortgage Specialist for more details.

Contact Us

    Our Exclusive Suite of Products

    Our team is devoted to helping you achieve your long term goals. If they include paying down your mortgage faster or looking for a rental income to make some headway on your amortization, we are happy to discuss all options related to your mortgage payments.


    Explore possibilities that you may not have previously considered – you may discover a wealth of new options that exist beyond traditional banking products. As your Kelowna Mortgage Broker, John Antle is able to help you with your first mortgage or renegotiating the terms on an existing property.


    Call John Antle Mortgages in Kelowna today and let’s get started!


    John Antle Mortgage Alliance has access to over 60 of the Top Moneylenders. Let us find the right Mortgage to suit your needs!