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Get Pre-Approved. Secure Your Loan. Buy

Your first step to buying a home is getting a home loan pre-approval. At Summit Lending, we guide you through the entire process to help you secure your loan successfully.
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Getting Pre Approved
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Your Guide To Home Loan Pre Approval

What Are Mortgage Loan Pre-Approvals?

A home loan pre-approval serves as a stamp of approval from lenders confirming your financial readiness to buy a home. Before you get pre-approved, the lender will evaluate your debt-to-income ratio and creditworthiness. Upon approval, you will receive a statement that serves as their conditional commitment to lending you money to buy your home while also showing how much they are willing to give you.

Pre-approval Vs Prequalification - What's The Difference?

A prequalification gives you a rough idea of how much you can borrow based on what you tell the lender about your finances. Pre-approval, on the other hand, means the lender has checked and confirmed your financial information, giving you a conditional thumbs-up for a specific loan amount.

When Should You Get Pre-Approved?

You can get approved for a mortgage in as little as one business day if your paperwork is in order, while other lenders may take longer. Pre-approvals are usually valid for 90 days. However, some lenders may keep it valid for 30 or 60 days.

We recommend you start before looking for a home to ensure you can make an offer on the home you like on time.

Do Pre-approvals Affect Your Credit Score?

Before you get preapproved for a mortgage, lenders carry out a hard pull of your credit to check your score, temporarily lowering it by a few points. However, you will have a 45-day window in which multiple credit score inquiries will be considered on your credit report. Are you worried about denial? You can ask the lender why your home loan pre approval was denied and address the issue.

However, when you work with mortgage loan specialists like us, we ensure you apply for the loans that best align with your financial situation, maximizing your chances of approval.

Pre-Approval Costs

You may be wondering if you need to pay money to get pre-approved for a mortgage loan. That depends on the lender you choose to work with. Some do it for free, while others demand a non-refundable application fee you must pay upfront, whether you get approved or not.

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How Can Summit Lending Help You?

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Schedule an obligation-free consultation with our mortgage specialists to discuss your financial situation and the budget you have in mind.

Financial Health Check

We will review your financials to determine how much you can borrow and which lender is right for you.

Gathering Paperwork

We will assist you in gathering all the paperwork needed to support your application, from bank statements to pay stubs and other records.


We will guide you through the entire application process to ensure you get everything right the first time.


Once your application is reviewed and accepted, you will get preapproved for your mortgage, allowing you to make an offer on your new property.

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Mandi Turner
John Hortin
Brodie Calder
Summit Lending

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Our team of mortgage specialists are available 9am - 5pm Mondays to Fridays. We provide first hand help and support from the experts in the field.Chat With us