This video covers the most common mistakes that can jeopardize a mortgage pre-approval. While getting pre-approved is an important first step toward homeownership, certain financial moves made afterward can cause lenders to delay, question, or even revoke the approval.
The video explains why taking on new debt — such as opening a credit card, financing a vehicle, or increasing existing balances — can negatively impact debt ratios and credit scores. It also highlights how switching jobs or income sources too early can create verification issues, even if the new position seems better on paper.
The key message is simple: before making major financial decisions, buyers should always consult with their lender. Clear communication helps keep the pre-approval valid and makes the path to closing smoother and stress-free.
Planning to buy or sell a house or a condo in Mississauga, Brampton, Toronto and GTA?
Give me a call!
Alex Price, Real Estate/Mortgage Broker Toronto, Mississauga and GTA Direct
phone: 647-403-4282
SOLD YOUR FRIENDS PLANNING TO SELL OR BUY A PROPERTY? REFER THEM TO ME FOR GREAT SERVICE!
