You gather your financial documents, talk to a lender, and review what you can comfortably afford. A pre-approval is your first real step toward buying a home.
Start by contacting a bank or mortgage broker. Brokers shop multiple lenders for you, while banks work with their own products. Both can get you pre-approved — it just depends on what’s easier for you.
You’ll need a few basics:
Recent pay stubs
Employment letter
Tax returns or Notice of Assessment
A list of monthly debts
Your down payment source
From there, the lender reviews your credit score, income, and debt levels to determine your maximum purchase price. But here’s the dad-style truth Tyler Peroni always gives: “Just because you’re approved for it doesn’t mean it’s your comfort number.” Look at your monthly payment, not just the total amount.
A pre-approval also locks in your interest rate for a few months, giving you some protection if rates rise. More importantly, it shows sellers you’re serious — and strengthens your offer in a competitive market.
Once you’re pre-approved, you can shop with confidence, knowing your numbers and avoiding surprises.
👉 Need help connecting with trusted Sudbury lenders? Reach out to Tyler Peroni for recommendations.