Discover the amount you can afford for your home purchase by obtaining a crucial mortgage pre-approval, which assists in determining your financial strategy, mortgage amount, down payment, and affordability. This process also involves advising on necessary documents for conditional approval. Pre-approval serves as the initial step towards mortgage approval, indicating the borrowing amount possible based on current financial status, identifying potential qualification obstacles early on, and expediting the approval process. The duration of pre-approvals typically ranges from 60 to 120 days, dependent on the lender and credit standing, with some lenders offering the option to lock in rates to safeguard against increasing interest rates. Utilizing cutting-edge tools in Canada, errors are minimized, efficiencies are enhanced, and time is saved, while quick pre-qualification tools help determine your eligibility.