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	What is a mortgage pre-authorization ?

	Although it proves to be an essential tool when shopping for a property, very few people take advantage of the mortgage pre-authorization. Do you know your potential borrowing capacity ? Do you have an idea of the maximum mortgage amount for which you may qualify in regards to your financial situation ? This is indeed the starting point when you wish to realistically and efficiently acquire a property !



When you meet with a Multi-Prets consultant, he/she will collect from you all necessary information to be able to simulate how much a financial institution may lend to you, provided you carry a <<healthy>> credit record. Your Multi-Prets consultant works with you and on your behalf, free of charge. When your borrowing capacity has been determined, you can calculate what your monthly payments might be for the chosen loan amount, and may request the lender to grant you a pre-authorized mortgage. You are now well equiped to visit and negotiate properties with peace of mind and confidence, along with your real estate agent or building contractor. In addition, when pre-authorized for a given amount and rate you benefit from a rate protection which can extend in some cases up to 180 days. Residential mortgages, 1 to 4 units, owner occupied, other conditions may apply