How to get pre-approved
for a mortgage in Canada —
step by step.
Mortgage pre-approval in Canada follows a set order: share your numbers, prove them with documents, consent to one credit check, get tested against the stress test, and leave with a maximum amount and a rate hold.
Four things that make
our pre-approval different.
A pre-approval is only as useful as the process behind it. Here is what we do differently.
A clear order of operations
From the first conversation to a written pre-approval and rate hold, we walk you through every step — so you always know what's next and nothing catches you off guard.
Document list sorted by income type
Salaried, commission and self-employed files have different requirements. We send a checklist matched to how you earn, so everything arrives in one pass — no back-and-forth.
Stress-tested budget before you shop
We qualify your file at the greater of your contract rate plus 2% or 5.25% — before you write a single offer. You shop inside a ceiling that will actually fund.
One credit check, 100+ lenders compared
One application compared across banks, credit unions, monolines and alternative lenders. On standard prime files the lender pays the broker — so pre-approval help is typically free to you.
How to get
pre-approved —
three steps.
Documents first, credit check second, rate hold last. That order matters — and we guide you through every stage.
Share your numbers and gather documents
Tell us your income, debts, down payment and target price. We give you a ballpark with no credit pull, then send a checklist matched to how you earn so the full document pack arrives in one upload.
Credit check and qualifying
With your consent we run one hard credit check, verify each document, and test your file against the stress test and debt-service limits, then compare the result across 100+ lenders to see where your file fits.
Receive your pre-approval and rate hold
The lender issues a maximum amount, its conditions and a rate hold, commonly 90 to 120 days. You shop inside that ceiling, keep your finances unchanged, and call us as soon as you have an accepted offer.
We help across
every borrower profile.
Tap any situation below to see how we approach it.
If you’re…You're salaried or hourly and ready to start shopping
You're salaried or hourly and ready to start shopping
Standard salaried files move quickest. Two recent pay stubs, a letter of employment and two years of T4s typically complete your document pack. We submit to lenders same-day and often have a pre-approval letter within 24–48 hours.
Start my pre-approvalIf you’re…You're self-employed or earn commission income
You're self-employed or earn commission income
Commission and self-employed income is averaged over two years of NOAs and T1 Generals. We know which lenders are most lenient on your income story and will match your file before pulling credit.
Get pre-approvedIf you’re…You're planning to finance a car or take on new debt soon
You're planning to finance a car or take on new debt soon
New debt after a pre-approval is the most common way to void it — a car loan, furniture on credit or co-signing can push your TDS ratio past the limit. Call us first so we can model the impact before you commit.
Check the impactIf you’re…Your rate hold is expiring and you haven't bought yet
Your rate hold is expiring and you haven't bought yet
Most holds refresh with updated documents — expect new pay stubs and bank statements dated within 30–90 days. Put the expiry date in your calendar and contact us at least two weeks before it runs out.
Refresh my holdIf you’re…Your credit score is lower than you expected
Your credit score is lower than you expected
We have specialist A, B and alternative lenders for a range of credit profiles. We'll show you which lenders can work with your score now and what to improve before you apply — without wasting a hard inquiry.
See my optionsIf you’re…You're a newcomer to Canada with limited credit history
You're a newcomer to Canada with limited credit history
Newcomer programs accept international employment history and limited Canadian bureau. Some lenders approve on a valid work permit from day one; others need 3–6 months of residency. We match you before we pull credit.
Explore newcomer programsWhat the stress test
actually does to your ceiling.
Lenders qualify you at a higher rate than you'll actually pay. Here is the real impact on your approved amount.
- Gross income$120,000/year
- Offered rate4.14% fixed
- Qualifying rate used4.14%
- Max GDS ratio39%
- Approximate max mortgage~$680,000
- What buyers expect~$680,000
- Gross income$120,000/year
- Offered rate4.14% fixed
- Qualifying rate used6.14% (4.14+2%)
- Max GDS ratio39%
- Approximate max mortgage~$560,000
- Your real shopping ceiling~$560,000
Illustrative only — your rate, income, debts and approved amount will differ. The qualifying rate is the greater of your contract rate plus 2% or 5.25%, per OSFI4 and the Department of Finance.6 Try the stress-test calculator.
- Financial Consumer Agency of Canada. “Getting pre-approved and qualifying for a mortgage.” Accessed Sep 2026. Supports: What a pre-approval is, how lenders assess income and debts (GDS/TDS), and the stress test.
- Financial Consumer Agency of Canada. “Saving for a down payment.” Accessed Sep 2026. Supports: Minimum down payment tiers.
- CMHC. “Homeowner mortgage loan insurance: purchase.” Accessed Sep 2026. Supports: Owner-occupied 3–4 unit minimum 10% down.
- OSFI. “Minimum qualifying rate for uninsured mortgages.” Accessed Sep 2026. Supports: Greater of contract rate + 2% or 5.25%.
- Financial Consumer Agency of Canada. “What’s in your credit report.” Accessed Sep 2026. Supports: Inquiries stay ~3 years at Equifax, up to 6 years at TransUnion.
- Department of Finance Canada. Statement on the Canadian housing market, May 20, 2021. Accessed Oct 2026. Supports: Insured mortgages qualify at the greater of contract rate + 2% or 5.25%.
Common questions,
clear answers.
How long it takes, how long it lasts, whether it guarantees anything, and what it costs — answered plainly.
How long does mortgage pre-approval take in Canada?
A ballpark estimate can be same-day with no documents. A verified pre-approval usually takes from a few hours to a couple of business days once all your documents are in. Self-employed and commission files often take longer because there is more income to review.
How long is a mortgage pre-approval valid?
Usually 90 to 120 days, in line with the rate hold. If you haven’t bought by then, it can normally be refreshed with updated documents, but you may need to requalify at current rates.
Does a pre-approval guarantee I’ll get the mortgage?
No. It is conditional. Final approval depends on the specific property, including any appraisal, and on your income, debts and credit staying the same until closing.
Does a mortgage broker charge for pre-approval?
On standard prime files, no. The lender pays the broker when the mortgage funds. Any fee on an alternative or private file must be disclosed to you in writing before you commit.
We’ll try to beat your rate.
If we can’t, we pay you $500.¹
¹ Rate Beat: eligible Big-6 bank written offers only · same product, term & amount · $500 paid to you or your nominated charity at closing · conditions apply
Find a mortgage specialist in your city
Pre-approval works the same everywhere in Canada — the documents, credit check and stress test don't change. What changes is local price bands, minimum down requirements, and land transfer tax. Find a specialist who knows your market.