Pre-approvals are not just for people to purchase their homes. Pre-approvals also apply to mortgage transfers.

A pre-approved mortgage provides an interest rate guarantee from a lender for a specified period of time and for a set amount of money before you transfer your mortgage. The pre-approval is made based on your financial and credit history information.

There are a few advantages to get a mortgage pre-approval:

• Maximum Mortgage Amount - you know your limit to borrow for your home;
• Interest Rate Guarantee - you know the interest rate you will get;
• Monthly Payments - you know how to budget your money with this knowledge.

With this pre-approved mortgage, you are assured by the bank to get the approved rate and the mortgage, subject to certain conditions. The rate is guaranteed to be the lowest until the expiry date of your pre-approval (usually in the range of 60 to 120 days depending on the lending institutions). If the bank rates go down, your rate will go down; if the bank rates go up, your rate will stay as approved (i.e., the low rate).

To get a Mortgage Pre-approval is easy from Valueland:

>> Download An Application Form;

>> Contact Valueland for Further Information.

You have nothing to lose with a pre-approved mortgage. It should be the first step BEFORE you get your bank renewal letter.