Before you start your search for a home, one of the first things you should do is get pre-approved. Why? Let us show you. As a first-time home buyer, you'll probably need to borrow most of the price of the home. That's why getting pre-approved for a mortgage is a smart thing to do — even before you start your home search.
Getting pre-approved lets you shop for a house confidently because you'll know how much you can borrow. The amount you can borrow is based on how much you earn each month and how much debt you have. A BMO Mortgage Specialist or an in-branch mortgage representative will help. A pre-approval is valid for 90 days and the money will be there when you find the perfect home.