Pre-Approved Mortgages Yellowknife NT

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
(867) 873-6261
480 B Range Lake Road - P.O. Box 1799
Yellowknife, NT
Type
Branch with ABM

RBC - Yellowknife Branch
(867) 873-5961
1-4920 52Nd St
Yellowknife, NT
Languages
English, French
Office Hours
Monday: 09:00 - 16:00
Tuesday: 09:00 - 16:00
Wednesday: 09:00 - 16:00
Thursday: 09:00 - 16:00
Friday: 09:00 - 17:30
Saturday: Closed
Sunday: Closed

Scotiabank
(867) 669-6000
5102 50Th Avenue
Yellowknife, NT
 
BMO Bank of Montreal
(867) 873-6261
480 B Range Lake Road - P.O. Box 1799
Yellowknife, NT
Type
Branch with ABM

Mortgage Intelligence
(867) 669-2049
134 Rivett Cres
Yellowknife, NT
 
Scotiabank
(867) 669-6000
5102 50Th Avenue
Yellowknife, NT
 
RBC - Hay River Branch
(867) 874-6547
77 Woodland Dr
Hay River, NT
Languages
English, French
Office Hours
Monday: 09:30 - 16:00
Tuesday: 09:30 - 16:00
Wednesday: 09:30 - 16:00
Thursday: 09:30 - 16:00
Friday: 09:30 - 17:00
Saturday: Closed
Sunday: Closed

RBC - Yellowknife Branch
(867) 873-5961
1-4920 52Nd St
Yellowknife, NT
Languages
English, French
Office Hours
Monday: 09:00 - 16:00
Tuesday: 09:00 - 16:00
Wednesday: 09:00 - 16:00
Thursday: 09:00 - 16:00
Friday: 09:00 - 17:30
Saturday: Closed
Sunday: Closed

BMO Bank of Montreal
(867) 872-2001
82 Breynat St
Fort Smith, NT
Type
Branch with ABM

Canada Mortgage & Housing Corp
(867) 873-5637
Yellowknife, NT
 

Pre-Approved Mortgages

Provided By:

(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