Glossary · Financing
What is Mortgage pre-approval?
A pre-approval is a lender's conditional commitment to lend you a set amount, based on your finances, before you shop for a home.
Definition
Getting pre-approved tells you how much you can borrow and locks in a rate for a period of time. It signals to sellers that you're a serious, qualified buyer — which can strengthen your offer in a competitive market.
Pre-approval involves a review of your income, debts, and credit. It's not a final guarantee — the lender still needs to assess the specific property — but it gives you a clear, confident budget.
When mortgage pre-approval matters
- Knowing your budget before house hunting
- Making a stronger, more credible offer
- Locking in a rate while you shop
With Homeprint
How Homeprint helps with mortgage pre-approval
When you're ready to buy, Homeprint keeps your documents organized and ready to share, making applications faster and smoother.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Mortgage pre-approval — FAQ
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