Why a Mortgage Pre-Approval is Your Best Tool in Today’s Market

Spring is a prime time for real estate, bringing new listings, increased buyer activity, and fierce competition. With mortgage rates easing and extended amortization options now available for first-time buyers, borrowing power has increased significantly since late 2023. But in a fast-paced market, being financially prepared is crucial—and that’s where a mortgage pre-approval comes in.

In his recent Vancouver Sun article, Randy Chin, RBC Regional Manager, Residential Mortgages, breaks down why pre-approvals are more than just a formality. They not only help buyers understand their budget but also strengthen offers, speed up the purchase process, and even lock in interest rates. Sellers and agents take pre-approved buyers more seriously, making it an essential tool in today’s competitive market.

You can find his article here

👉 Thinking about buying a home this spring? Start with a mortgage pre-approval to give yourself a competitive edge. Need guidance on navigating the Nelson, BC market? Contact us at info@nelsonproperty.com—we’re here to help!

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