Obtaining a mortgage pre-approval from your Mortgage Professional before you begin house hunting is highly advisable. When working with a Realtor, they will inquire whether you have been pre-approved. Your Mortgage Professional will assess your financial situation to determine the mortgage amount you can afford and provide you with a hold on the current interest rate for fixed rate mortgages, valid for a specified period (typically around 120 days). It's essential to understand that a pre-approved mortgage does not guarantee final approval for the loan. (source CMHC)

Having a pre-approved mortgage amount is beneficial even if you haven't found your desired home yet, as it enables you to establish a suitable price range and simplifies the process of house hunting with your Realtor.

Bring the following information with you the first time you meet with your Broker:

1. Your personal information, including photo identification such as your drivers license
2. Details on your job, including confirmation of salary in the form of a letter and 2 paystubs from your employer
3. All of your sources of income
4. Information and details on all bank accounts, loans and other debts
5. Proof of financial assets (statements of accounts must have your name on them)
6. Source and amount of down payment and deposit
7. Proof of source of funds to cover the closing costs (these are usually 1.5% of the purchase price)