MENU		LENDERS		ONLINE PRE-QUALIFICATIONS
		Many institutions and individuals lend money for mortgages. These include  banks, trust companies, credit unions, finance companies, insurance companies and pension funds. In addition to this kind of direct lenders there are intermediaries called mortgage brokers. Mortgage brokers don't usually lend money but can find a lender for you.		While shopping for the best loan terms, you may be tempted to pre-qualify with more than one lender. If so, be careful. Too many pre-qualifications could affect your ability to borrow money. Every time you apply for a loan, the lender checks your credit history. These checks show up as inquiries on your credit report.
		For your convenience the House Hunting In Toronto website has selected Preferred Partners for several real estate related services. Our Preferred Mortgage Partner is Michael Pezzack, mortgage consultant for Buyingblock. His job is to help you decide on the best mortgage package then find you the lowest rate - his service is free. To contact Michael, give him a call at 416-850-2642 or complete the Feedback Form (click here).
		APPROVAL		PRE-APPROVAL
		A mortgage approval should take only a few days, but it's probably best to allow up to two weeks. During this process, the lender will do a credit check and spot check other information you have provided. In addition, an appraisal of the value of your home may be obtained. Whether the lender approves your loan application will be determined by an evaluation of the following: Capacity: Do you have enough income to repay the debt? Credit history: Do you pay your bills on time and do you live within your means? Capital: What are your current assets? Collateral: What assets can you pledge as security against the mortgage? To request a quote online, please visit Michael's secure server page at Buyingblock. Just fill in this form telling him a few important things about yourself and your mortgage financing needs and he will provide you with a free quote at the most competitive mortgage rate available.		A pre-approved mortgage is very common. With pre-approval, your lender approves the amount of your mortgage and gives you a written confirmation or certificate for a fixed time period before you start looking for a home. The pre-approval term, usually lasting from 60 to 90 days, also sets the mortgage rate the lender will offer you. If rates go down in the specified period, the lender should offer you the new lower rate.

CONTACT INFORMATION
		Rick McGuigan Toronto real estate sales representative Coldwell Banker Case Realty Phone: 416-696-5100 Pager: 416-461-0925
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