If you’re looking to buy a home, the current real estate environment can be very daunting.Between the pandemic, rising inflation, and the housing crisis, becoming a homeowner seemsmore unattainable than ever. In this article, you will find an overview of…
If you are one of the 75% of Canadians who search online for a mortgage, you may have heard of pre-approvals and pre-qualifications. But what do these mean? Here is our best attempt at demystifying them for you. 🤯
I am ready to move forward with the purchase of my house
You are seriously thinking about buying and you want to look credible to the seller.
I’m beginning the buying process
You’re starting to get interested in buying a property and you want to get a rough idea of how much you can afford (in a short time frame).
Evaluate how much I can borrow
It relies on the same proof and documents required for the final application.
It relies on the (unverified) information you have provided to us.
You will need to answer several questions. You will also have a list of documents to provide us. The good news? These are the exact documents that will be required during the final application, why not start now?
You can complete the entire process online in less than 5 minutes (start here).
Impacts on Credit Score
We conduct a credit check by searching for your full credit file with Equifax.
Most brokers will not consider credit. nesto does a soft pull with TransUnion that does not affect your credit score 🙂.
Get approval on your low rate today
No big bank bias, just commission-free experts ready to help you.
Risk of Error
Since your information is validated by your documents, the risk of error is low. Curious? Here’s 8 things to avoid when buying a house.
Since the pre-qualification does not rely on client-provided documents, there is always a risk that the loan amount may be inaccurate or the client may not qualify under the lender’s rules. (For example, we discover later on that you are under-probation at your new job).
Does it mean I have to work with nesto?
No. We believe that all of our clients deserve the best rates, and should have the opportunity to compare offers from different brokers / lenders.
That’s why we do not sign an exclusive contract with our customers. We’re 100% free, no commitment, cost or obligation. 🌈
Ready to get started?
In just a few clicks you can see our current rates. Then apply for your mortgage online in minutes!
Table of contents
Lock in your mortgage rate for 150 days
Lock in your rate today
Related articles in: Mortgage Basics
What to do When Your Mortgage Application Gets Denied
If you’re buying a home in Canada, getting approved for a mortgage is one of the most critical steps. However, if your mortgage application gets denied at closing, it can be a frustrating and stressful experience. But don’t worry; there…
Mortgage & Housing Market Projections for 2023
The housing market throughout 2023 may look very different from what it is today. With an ever-changing macroeconomic landscape, driven by the forces of supply and demand, the future of home prices, mortgage rates and availability are difficult to predict…