Get Pre-Approved for a Mortgage in 24-48 Hours
Don't start house hunting without knowing your budget. Lock in your rate, shop with confidence.
As a first-time buyer in Ontario, pre-approval is your most important first step. We get you pre-approved in 24–48 hours from 40+ lenders — completely free, with no impact on your credit score.
Get Pre-Approved in 24-48 Hours
Takes 30 seconds · No obligation · 100% free
Newcastle Financial Corporation · FSRA Brokerage Lic. #13522
Why Pre-Approval is Your First Step as a First-Time Buyer
Ontario sellers require full pre-approval. Pre-qualification letters are not accepted.
Know Your Exact Budget
Stop guessing. Know precisely what you can afford before you start looking.
Rate Locked for 90–120 Days
Your interest rate is held while you house hunt, protecting you from rate increases.
Make Stronger Offers
Sellers take pre-approved buyers seriously. Stand out in Ontario's competitive market.
Faster Closing
Financing is already approved — your offer can close faster than non-pre-approved buyers.
✗ Pre-Qualification — Not Enough
- · Self-reported, unverified information
- · No lender commitment or rate hold
- · Not accepted by sellers in Ontario
✓ Pre-Approval — What You Need
- · Verified income, credit & down payment
- · Rate held for 90–120 days
- · Accepted by all sellers and realtors
What Lenders Evaluate
We review all of this upfront so there are no surprises.
Income & Employment
Stable income to cover monthly payments. Most lenders want 2+ years employment history. Recent job changes in the same field are usually fine.
Credit Score
680+ for best rates. 600+ for approval with insured lenders. Don't worry if you're below — we work with 40+ lenders and have options from 500+.
Down Payment
Minimum 5% for homes under $500K. 5% on first $500K + 10% above that for homes up to $999,999. 20%+ for $1M+. Source must be verified (90-day history).
Debt Ratios (GDS/TDS)
Housing costs should be under 39% of gross income (GDS). Total debts under 44% (TDS). We calculate these for you and flag any issues upfront.
Documents You'll Need
Gather these ahead of time and we can get you pre-approved in 24-48 hours.
Employment Income
- 2 most recent pay stubs
- Employment letter (salary, position, start date)
- 2 most recent T4s
Down Payment
- 90-day bank statements
- RRSP/FHSA statements if using for down payment
- Gift letter (if receiving money from family)
Identity
- Government-issued photo ID (passport or driver's licence)
- SIN number (for credit check)
💡 Maximize your down payment
If you have an FHSA (up to $40,000 tax-free) or RRSP savings, we'll factor these into your pre-approval to show the highest possible down payment — which can qualify you for a larger purchase price and better rates.
What First-Time Buyers Say
"As first time home buyers, my wife and I had an amazing experience with Amit! He helped us secure a great rate as well as walk us through every single step in securing our first home together. He provided us with daily updates."
Tuan Zufar Amidon
Google Review
"We weren't too familiar with the process but Amit made everything so seamless and efficient and was with us every step of the way. Very professional, knowledgeable and efficient at what he does!"
Delaan Satkunarajah
Google Review
You're in Good Hands
Our team of licensed Ontario mortgage brokers has helped hundreds of first-time buyers get pre-approved and into their first home — from application to keys in hand. We work for you, not the bank.
- Licensed with FSRA (Brokerage #13522)
- Access to 40+ lenders across Canada
- Free service — lenders pay our fee
- Dedicated broker from start to close
Common Questions
Does getting pre-approved hurt my credit score?
The initial check is a soft pull — no impact. When we formally submit to a lender it's a hard pull, but multiple mortgage inquiries within 14–45 days count as just one. We minimize credit checks by pre-screening before submitting, so the impact is minimal to none.
How long does a pre-approval last?
Most pre-approvals last 90–120 days with a rate hold. If you haven't found a home in that window, we can usually renew with updated documents — no full new application needed.
What's the difference between pre-approval and pre-qualification?
Pre-qualification is an informal estimate with no verification — sellers won't accept it. Pre-approval involves verified income, credit checks, and a lender commitment. In Ontario's market, you need a full pre-approval to make competitive offers.
Can I use my FHSA or RRSP for the down payment?
Yes. The FHSA lets first-time buyers save up to $40,000 tax-free. The RRSP Home Buyers' Plan allows up to $35,000/person ($70,000/couple) to be withdrawn tax-free. We factor these into your pre-approval amount.
Ready to Get Pre-Approved?
Free, no credit score impact, 24–48 hour turnaround. Know your budget before you start searching.
Rates, terms, and availability vary by lender and are subject to change without notice. Actual results depend on individual financial circumstances, credit profile, and lender criteria. Newcastle Financial Corporation is a licensed mortgage brokerage (FSRA #13522).