Getting pre-qualified helps determine how much you can afford based on specific financial information that you share with your lender. The lender does not verify the information, and consequently there is no guarantee that you will qualify for the loan amount. Getting pre-approved requires that the lender verify all your financial information and a commitment is made to lend the specified amount. This gives you significant buying power with a seller as you are as having an with an approved loan.

What's Pre-Qualification?

Pre-qualification is an informal discussion between borrower and lender. The lender estimates the amount that you can borrow based solely on what you tell them about your income and assets. The lender does no verification and is not bound to make the loan when you're ready to buy. On the other hand, loan pre-approval is based on documented and verified information regarding your employment, your income, your liabilities, your assets and the cash you have available to close on a home purchase.

How is Pre-Approval better?

To a seller, a lender's pre-approval letter is considerably stronger than a pre-qualification letter. Once a seller knows your finances are secure, your offer is stronger. Pre-approval also gives you peace of mind in the real estate market, knowing that you will qualify for the proper mortgage amount.

Whether you're interested in purchasing a second home, or selling a property you currently own, I can help! Regardless of where you're looking to buy or sell, I can assist you with the information, contacts and resources you need.

If you're interested in purchasing a second home, just let me know the areas in which you're looking.

Signature Service Financial

The "Signature Service Financial Team" , allows you to dream big! Our innovative mortgage and financial products are your first and only destination when shopping for a mortgage. They will assist you in reaching your goals and opening doors to new and exciting opportunities. They will help you purchase or sell your home within Moose Jaw and others regions at the best value.

Relocation/Move Services

At Signature Service Real Estate we can help you with all of your in-town and out-of-town real estate needs through our broad network of relocation and referral services. Our real estate agents are ready to help you buy or sell a primary home or even purchase a vacation home. With our local expertise  we can provide the best service within and outside its region as we have experts at your disposal at all locations.

The options for mortgages available can be very confusing for most mortgage shoppers. Terms for mortgages vary between variable and fixed rate, 6-month terms to 10 year terms. Taking a variable or floating rate mortgage can have savings.

Typically the shorter the term or guarantee of the rate, the lower the rate will be. This does not always happen, depending on the market place and the economy, but history has shown that short-term rates tend to be lower than long-term rates. The up side of variable rate is the strong potential for interest rate savings. The down side is the fact that you are accepting the interest rate risk without a guarantee. If you are considering a variable rate mortgage you need to look at your own risk tolerance, and your cash flow available to deal with potential increased payment. Considering projections of rates and where we see interest rates heading can also be important in this decision. Make sure you talk to an expert when you are making this decision.