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Don’t Start House Hunting Without This Step: Why Pre-Approval Comes First

  • erin0582
  • Jul 31
  • 3 min read



If you're getting serious about buying a home in Vancouver, Burnaby, or anywhere across the Lower Mainland, there’s one crucial thing you need to do before you fall in love with that stunning listing on Realtor.ca or that dreamy kitchen on Instagram…


You need to get pre-approved for a mortgage.



Why Pre-Approval Should Be Your First Step (Not Browsing Listings)


Here’s what usually happens: You start casually looking at homes. You see one that checks all your boxes. You book a showing. You get excited. And then—boom—the financing doesn’t line up. The home you thought you could afford is actually out of reach, or your lender isn’t ready when it’s time to submit an offer.


This is the kind of disappointment that can be completely avoided with a mortgage pre-approval.



What Exactly is a Mortgage Pre-Approval?

A mortgage pre-approval is a written statement from a bank or mortgage broker confirming how much money they’re willing to lend you—based on your income, debt, assets, and credit score. It’s not a casual estimate. It’s a document that shows:


  • You’ve already completed a financial check

  • A lender is ready to back you up

  • You’re prepared to make a real offer


In today’s market, especially in Metro Vancouver, this document is gold.



3 Powerful Reasons Pre-Approval Comes First


1. 💰 You Know What You Can Really Afford


Let’s say you assume your budget is $950,000. But once your debt and credit are factored in, your approved amount is closer to $850,000. That’s a $100,000 difference—a big deal in competitive neighbourhoods like Mount Pleasant, Brentwood, or North Vancouver.

With a pre-approval, you’re not guessing. You’re house hunting with confidence, knowing exactly what your financing allows for.



2. 🤝 You Stand Out to Sellers


In busy markets like Vancouver, homes often get multiple offers. When a seller sees your pre-approval attached to your offer, it signals that:


  • You're serious

  • You’re financially ready

  • You’re less likely to back out


Some sellers (and listing agents) won’t even consider offers without a pre-approval. That piece of paper can give you the edge in a bidding war.



3. ⏱️ You’re Ready to Move Fast


Homes in prime locations—like Kitsilano, Commercial Drive, or Fairview Slopes—don’t sit long. Having your pre-approval ready means you can write an offer on the spot without scrambling to reach your bank. It gives you speed, clarity, and leverage.



How Long Does Pre-Approval Last?


Pre-approvals are typically valid for 90 to 120 days, depending on your lender.It’s a great way to lock in an interest rate—even if you’re still a few months out from buying.


Pro Tip:If rates go up during your pre-approval window, you’re protected. If rates go down, your broker can often requalify you at the lower rate. Win-win.



Can It Be Renewed?

Yes! If you don’t find the right home in time, your broker can extend or refresh your pre-approval—just make sure you stay in touch and update any new financial changes (like job changes or new credit inquiries).



📆 When Should You Get Pre-Approved?


Ideally, 2 to 6 months before you plan to buy. Even if you’re not ready to purchase tomorrow, pre-approval gives you:


  • A clear financial picture

  • A better understanding of your buying timeline

  • Peace of mind knowing you're on the right track


Don’t Have a Broker? I’ve Got You Covered.


If you don’t already have a mortgage broker you trust, no worries. I work with some of the most responsive, honest, and client-focused professionals in the industry. They’ll walk you through every detail, answer your questions, and make the whole process feel seamless—not stressful.


📲 Let’s Get You Pre-Approved and Ready


Before you scroll to another listing or book a showing, let’s talk. Whether you’re a first-time buyer, looking to upgrade your space, or thinking about an investment property—pre-approval is your very first move.


I’m here to help every step of the way.Call, text, or email me any time to chat about your goals, the market, or how to get started.


Erin Price Emery

Contact me: erin@priceemery.com 

Call or text: 604-767-7725

Explore homes for sale in Vancouver and other areas listitvancouver.com



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