Mortgage pre-approval – first step towards your new home
What is a mortgage pre-approval?
DMC pre-approval is a calculation that establishes client’s ability to qualify for a mortgage loan.
As oppose to commonly known mortgage calculators, pre-approval is based on verified data – monthly income statements, SRS reports and person’s credit history. That is why pre-approval has more credibility – as if done by a loan officer.
After the pre-approval is completed, DMC contacts each customer to discuss any missing details of the application, and then uses its bank network to find the best deal.
With the help of this technology customers need only one stop – the DMC lending platform – to finance their home.
Advantages of pre-approval:
- Know what you can afford before starting to searching for a property
- Use pre-approval in a purchase process – have flexibility and threshold in the pricing negotiations and even sign an agreement
- Save time and worry less. Quick and timely answer will allow you to focus on what’s important – your new home.
- No commitment – DMC pre-approval is available free of charge and doesn’t require to sign a loan agreement with us.
How does it work?
Pre-approval answers the question «Do I qualify for a mortgage loan» ? However it is not yet a guarantee that DMC will issue a loan for a particular property.
Before getting a final approval, DMC will contact you to collect additional information. We will also collect loan offers from other lenders so you can choose the one that fits you the best (read about the full application process here).