Mortgage FAQs

What is the difference between pre-qualified and pre-approved?

Think of pre-qualification as a casual first date - it's a general idea of what you might qualify for based on the basics you share. No deep dive, no commitment.

Pre-approval on the other hand, is more serious. The lender actually checks your credit, income and documents. It's their way of saying, "We'll lend you this much if everything checks out". It holds more weight when you're ready to make an offer-especially in a competitive market. 

 

Is a fixed or variable rate mortgage better?

It depends on your vibe and your nerves. A fixed rate is steady and predictable. Great if you like set payments and sleeping soundly. A variable rate can start lower and potentially save you money if rates drop. If however, rates go up, so does your payment.

Not sure which is right for you? I'll run the numbers both ways and show you what makes the most sense based on your goals and tolerance level.

 

I'm self-employed, can I still get a mortgage?

Yes, self-employed individuals can qualify for a mortgage by providing proof of income through tax returns, financial statements and other documentation.