Pre-Approved Mortgages Saint John NB

Thinking about buying a new home but not sure what the difference is between being pre-qualified and pre-approved for a mortgage? Bernice Dunsby, RBC's senior manager of home equity, has some answers.

BMO Bank of Montreal
(506) 632-0202
15 Market Square
Saint John, NB
Type
Branch with ABM

RBC - Main Br - Saint John
(506) 632-8080
100 King St
Saint John, NB
Languages
English, French
Office Hours
Monday: 10:00 - 17:00
Tuesday: 10:00 - 17:00
Wednesday: 10:00 - 17:00
Thursday: 10:00 - 17:00
Friday: 10:00 - 17:00
Saturday: Closed
Sunday: Closed

Scotiabank
(506) 658-3370
365 Main Street
Saint John, NB
 
BMO Bank of Montreal
(506) 632-0221
120 Mcdonald St
Saint John, NB
Type
Branch with ABM

RBC - Westwind Place Branch
(506) 635-1030
800 Fairville Blvd
Saint John, NB
Languages
English, French
Office Hours
Monday: 10:00 - 17:00
Tuesday: 10:00 - 17:00
Wednesday: 10:00 - 20:00
Thursday: 10:00 - 20:00
Friday: 10:00 - 17:00
Saturday: 10:00 - 15:00
Sunday: Closed

Scotiabank
(506) 658-3365
39 King Street
Saint John, NB
 
BMO Bank of Montreal
Fairville Boulevard
Saint John, NB
Type
ABM

RBC - Lansdowne & Wellesley Br
(506) 634-8220
111 Lansdowne Ave
Saint John, NB
Languages
English, French
Office Hours
Monday: 10:00 - 17:00
Tuesday: 10:00 - 17:00
Wednesday: 10:00 - 17:00
Thursday: 10:00 - 17:00
Friday: 10:00 - 17:00
Saturday: Closed
Sunday: Closed

Scotiabank
(506) 658-3360
35 Main Street West
Saint John, NB
 
Scotiabank
(506) 658-3200
533 Westmorland Road
Saint John, NB
 

Pre-Approved Mortgages

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(NC)-Thinking about buying a new home but not sure what the difference is between being pre-qualified and pre-approved for a mortgage? Bernice Dunsby, RBC's senior manager of home equity, has some answers.

"When you're pre-qualified for a mortgage," says Ms. Dunsby, "a lender has simply given you a rough idea of how much you may be able to finance to buy your home."

"On the other hand," she continues, "with a pre-approved mortgage, a lender has made an actual commitment, subject to conditions, to loan you money."

You'll find house-hunting is easier with the advantages of mortgage pre-approval:

• You'll save time, seeing only homes you can afford, and you can better manage your money, knowing your monthly payment amounts, as well as how much your down payment will be.

• Real estate agents will serve you better because they know you're serious and ready to buy, and when you make an offer to purchase, the seller is more likely to give it serious consideration because you have solid financial backing. Your pre-approved status may also give you more negotiating power with a seller.

• Your mortgage rate will be locked in against increases for 90 days with most financial institutions if you select a fixed rate term (and it can go lower if rates go down). There's no cost to you for a pre-approval and you're not obligated to accept the mortgage.

More information on buying a home or getting pre-approval can be found online at www.findingyourhome.ca.

- News Canada