Buying a Home is a Journey – Turn to HW Advantage for Personal and Boutique Mortgage Advice.

Q: What is a Mortgage Pre-Approval?

A: A Mortgage Pre-Approval is a bank’s review of a borrower’s income, credit, and, down payment that helps determine what that borrower will qualify for in terms of a mortgage should they purchase a home.

Q: Why is getting a Mortgage Pre-Approval important? 

A: A Mortgage Pre-Approval provides you with a clear understanding of the mortgage amount you’ll qualify for, what the mortgage payments will look like, and also comes with a 120-day rate hold (may vary by lender) to protect you from any short-term market rate increases.

Q: Does a Mortgage Pre-Approval guarantee my mortgage approval?

A: No. The Mortgage Pre-Approval is still subject to the bank’s approval of the property being purchased. In addition, a full approval will require you to meet certain conditions be met (ie. income confirmation with a pay stub and job letter of employment) to satisfy and secure the banks full approval. The Mortgage Pre-Approval is a helpful tool for someone looking for a home and a great way to protect yourself from rising interest rates.

As mortgage managers, we provide strategic support that helps the client pay off their mortgage faster and improve their overall financial well-being. The HW advantage prides itself on the fact that it is a referral based business. Our success and client satisfaction is based on client confidence, service quality, personalized mortgages and ongoing financial support. Most of our clients have been referred by a colleague, family member or friend. Perhaps you’re here because a friend referred you! Check out the testimonials on our Facebook site. Let’s face it – banks make money by charging interest on their lending. The more interest you pay, the more money banks make. That makes sense, right? Conversely, HW Advantage business grows because of the money that we save you! Now that makes perfect sense! HW Advantage welcomes your friends, family and colleagues.