6 Things You Should NOT Do When Pre-approved for a Mortgage
Channel: Arise Mortgage - John Lee Mortgage Broker
Date: 08/07/2020

You may think that once you've been pre-approved, that means you'll be approved for a mortgage! That is incorrect! You need to maintain your financial situation and any changes will impact your pre-approval and how much you can qualify. Here are 6 things you should NOT do when you're pre-approved!

0:46 Do not change jobs, become self-employed or quit your job
1:05 Do not buy any high ticket items that require financing
1:27 Do not use your credit cards excessively or let your debt payments fall behind
1:49 Do not spend money you have set aside for closing costs
2:15 Do not make large deposits into your bank account without letting your mortgage broker know
2:40 Do not co-sign a loan or mortgage for anyone

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John Lee, a Mortgage Broker based in Canada, shares ways to be approved for a mortgage, home buying tips, and other mortgage-related stuff. If you're considering purchasing a home or refinancing your existing property, make sure to subscribe for helpful content-rich videos.

He is a licensed Mortgage Broker, author of The Ultimate Mortgage Guide, and the President and CEO of Arise Mortgage. He's been in the financial and real estate industry since 2006. Before becoming a Mortgage broker, he worked at various big banks and a real estate company that involves property management and large real estate acquisitions. He has helped hundreds of families with a mortgage and one of the most fulfilling parts of my job is working with first time home buyers and securing their dream home.

If you have any questions or would like to connect with me, below is John's contact info:

604-722-8404
john@arisemortgage.ca

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