First-Time Home Buyer Mortgages
Down payment rules, pre-approval and closing costs explained in plain language before you make an offer.
Learn moreRate held while you shop
Ontario - License #11000073 · Nova Scotia - Licence #2023-3000786 · Mortgage Outlet Inc #12628
Mortgage pre-approval in Ontario
A pre-approval is only useful if a lender actually reviewed your documents. We submit a documented file so your budget is real and your offers are taken seriously.
Who this is for
- Actively shopping or about to start
- Competing against other offers
- Want your rate protected against increases
- Need a firm budget before your agent books showings
What's included
Document-backed submission
Income, employment and down payment reviewed up front, not after you have an accepted offer.
Rate hold
Most A lenders hold the pre-approval rate for 90–120 days. If rates drop, you get the lower rate.
Maximum price, not just maximum loan
We convert your approval into a purchase price that includes closing costs and property tax.
A letter your agent can use
A clean pre-approval letter that gives sellers confidence in your financing condition.
Pre-qualification versus pre-approval
A pre-qualification is a conversation and an estimate. A pre-approval is a lender decision based on reviewed documents with a held rate. Sellers and listing agents treat them very differently in a competitive offer.
How long it takes
Most files are submitted the same business day once documents are in, with a lender response typically within one to two business days. Self-employed and commission income files can take longer because there is more to verify — we will tell you the realistic timeline up front.
Keeping a pre-approval valid
Do not change jobs, finance a vehicle, or take on new credit between pre-approval and closing. If something has to change, call us before it does so we can re-run the file rather than fix it after the fact.
How the process works
- 1
Application
One application, one credit check, submitted the same business day documents arrive.
- 2
Lender review
An underwriter reviews income and credit — not an automated slider estimate.
- 3
Rate hold issued
Your rate is protected for 90–120 days, and drops if the market drops.
- 4
Offer support
Your agent can reach us during offer negotiations to confirm conditions.
Documents we'll ask for
- Two most recent pay stubs
- Letter of employment (dated within 30 days)
- Last two years of T4s or notices of assessment
- 90-day history of down payment funds
- Photo ID and confirmation of Canadian status
Documents come in through secure upload — never plain email. Missing something? Send what you have and we'll tell you what still matters.
Run the numbers
Calculators for this file
Mortgage Affordability Calculator
Find your maximum purchase price using the same GDS, TDS and stress-test limits Ontario lenders apply.
Open calculatorMortgage Payment Calculator
See your payment at any frequency, the interest you pay over the term, and the balance left at maturity.
Open calculatorOntario Land Transfer Tax Calculator
Provincial and Toronto municipal land transfer tax, with first-time buyer rebates applied automatically.
Open calculatorRelated mortgage services
Self-Employed Mortgages
Business-for-self files structured properly, using the income lenders will actually recognise.
Learn moreNew To Canada Mortgages
Newcomer programs for permanent residents and work-permit holders with limited Canadian credit.
Learn moreCredentials you can check
A-lender access
Banks, monolines and credit unions compared side by side.
Mortgage Agent Level 2
Licensed Mortgage Agent Level 2 serving Ontario borrowers.
Same-day callbacks
You speak with an agent, not a call queue.
CMP Top 75 Agent 2025
Recognized among Canada’s top mortgage professionals in 2025.
15+ years experience
Helping Ontario borrowers find the right mortgage for over 15 years.
- Does a mortgage pre-approval hurt my credit score?
- A pre-approval involves one credit check. A single mortgage inquiry has a minor, temporary effect. Multiple mortgage inquiries in a short window are generally treated as one shopping event.
- How long does a pre-approval last?
- Typically 90 to 120 days depending on the lender. It can usually be refreshed with updated documents if your search takes longer.
- Can I make an offer without a pre-approval?
- You can, but you are guessing at your budget and your financing condition carries real risk. In competitive markets, buyers without pre-approvals lose properties they could have afforded.
Find out what you actually qualify for
Send the basics and we'll come back with real lender options, or call and get an answer on the first conversation.