A pre-approved mortgage certificate is not a guarantee of being approved for the mortgage loan.
Even if you have a pre-approved mortgage certificate, you must still meet your lender during the conditional offer period to get a final mortgage approval.
To ensure that the process goes smoothly, make sure you bring:
1. A copy of the property listing and
2. A copy of the signed Offer to Purchase
Your lender will update/verify your financial information, and put together the information required to complete the mortgage application.
Your lender may require an appraisal and/or a survey. Title insurance may also be required. Your lender will also inform you about the various types of mortgages, terms, interest rates, amortization periods and payment schedules available.
Depending on your down payment, you may have a conventional or high-ratio mortgage.
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