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Mortgage Pre-Approvals in Edmonton
Know your budget, hold a rate, and write offers with confidence instead of guessing.
A mortgage pre-approval is one of the smartest first steps for any Edmonton buyer. It tells you exactly how much home you can afford, gives you a rate hold for a set period, and signals to sellers that you are a serious, qualified buyer. Jason Scott walks you through the process clearly and honestly so there are no surprises when it is time to write an offer.
What a Pre-Approval Actually Does
A pre-approval is more than a casual estimate. It involves a full review of your income, debts, credit history, and down payment sources. Once approved, you receive a written commitment for a specific amount, often with a rate guarantee that protects you if rates rise before you find a home.
This is different from a pre-qualification, which is typically a quick conversation without verification. A true pre-approval carries much more weight with sellers and their agents.
Documents You Will Need
- Recent pay stubs or proof of income (T4s, Notices of Assessment for self-employed clients)
- Identification (two pieces, government issued)
- Down payment confirmation (bank statements, investment accounts, or gift letter)
- List of current debts (car loans, credit cards, lines of credit)
- Employment letter (if salaried) or business financials (if self-employed)
How Long Does a Pre-Approval Last?
Rate holds typically last 90 to 120 days depending on the lender. If you have not found a property by then, the pre-approval can often be renewed or extended. Market conditions at the time will determine whether the held rate still applies or a new rate is offered.
Pre-Approval vs. Final Approval
A pre-approval is conditional. Final approval happens after you choose a property and the lender reviews the specific purchase, including the appraisal and any conditions. Think of pre-approval as a green light for your finances and final approval as a green light for the entire deal.
Why Work with a Broker for Pre-Approval
When you get pre-approved at a bank, you see one institution's product. When you work with Jason, your pre-approval is built on access to 20+ lenders. That means your rate hold reflects competitive options across the market, and when you find a property, Jason can shop the final deal to get you the best combination of rate, terms, and flexibility.
Ready to explore more detail? Read the Edmonton pre-approval guide or the comprehensive 2026 pre-approvals guide for a deeper look at strategy and timing.
Get started today. Call 780-721-4879 or apply online. A pre-approval conversation usually takes about 20 minutes.
Pre-Approval FAQs
Does a pre-approval guarantee I will get the mortgage?
A pre-approval confirms your financial eligibility up to a certain amount. Final approval depends on the property you choose passing the lender's review, including appraisal and title checks. In most cases, if your financial situation has not changed, final approval is straightforward.
Will a pre-approval hurt my credit score?
A single credit inquiry for a mortgage pre-approval has minimal impact. Multiple mortgage inquiries within a short window (typically 14 to 45 days) are usually treated as a single inquiry by credit bureaus.
Can I get pre-approved if I am self-employed?
Yes. Self-employed pre-approvals require different documentation, such as two years of tax returns or business financials. Jason has experience structuring these applications for lenders who understand business income. See the self-employed page for more detail.
Ready for a clearer mortgage plan?
Call Jason. He will educate you, answer your questions, and make the next step easier.