Question 1

How long does a mortgage pre-approval take in Edmonton?

Accepted Answer

A complete salaried file can often be submitted the same week. Self-employed or new-to-Canada files take longer because the income package is larger. We will not pretend a same-day hold is possible if the documents are not in.

Question 2

Does a pre-approval guarantee I will get the house?

Accepted Answer

No. It supports your offer and your budget. The property still has to appraise and meet insurer and lender rules.

Question 3

Is a pre-approval the same as a pre-qualification?

Accepted Answer

No. A pre-qualification is a conversation about numbers. A pre-approval is a lender (or insurer) looking at documents. Ask which one you are being given.