What is the Difference Between a Mortgage Pre-Approval & Approval?

Friday Aug 25th, 2023

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The process of qualifying for a mortgage has 2 stages. When you first decide you are ready to purchase a home, you provide a mortgage specialist with information about your income, assets, savings and debt. Based on this information, you are given a commitment letter, which let’s you know the maximum amount the lender would be willing to lend you. This is the Mortgage Pre-Approval. At the time you submit an Offer on a property, the lender will then determine the appraised value of... [read more]

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Dianne Kerr

Dianne Kerr

Sales Representative

Royal LePage Connect Realty, Brokerage

335 Bayly Street West, Ajax, ON, L1S 6M2

Dianne@DianneKerr.com

(647) 971-1905

(905) 427-6522

(905) 427-6524

Featured Testimonial

Dianne gets 5 stars! With uncertain times, it is very important to hire an experienced professional who you can trust. Dianne Kerr was my first choice as a Realtor. I found Dianne was always available to answer questions and guide me through this process with care and understanding. Dianne was well versed on the neighbourhood trends and helped me prepare for all possible scenarios while I prepared to list my house for sale. Throughout this process, I was very impressed with how hands on Dianne was. Thanks to great photos and marketing plan, we had a lot of interest and quickly sold with multiple offers. We noticed other homes sat on the market in the area unsold for weeks. Not only did Dianne negotiate the best terms for the sale of the home, she navigated us through a challenging situation, just prior to closing, with grace and care. I am not surprised that Dianne has won the Royal LePage Ruby Award in 2022 and ranked among their Top 5% Nationally. Congratulations Dianne! I would like to thank Dianne for her hard work, dedication and devotion she provided to me as a client. I thank you Dianne! It was a great pleasure working with you!

Erick Davis

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