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Mortgage pre-approval guides

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Ten sourced guides to getting pre-approved in Canada and keeping it until closing: pre-approval vs pre-qualification, rate holds at nine lenders, documents, the credit check, what can break it, after your offer, and guides for first-time buyers, self-employed borrowers, newcomers and lower credit scores.

Figures as of 2026-11-02.
Facts checked How we check facts
Pre-approval vs pre-qualification: what's the difference?Pre-qualification is a quick estimate from what you tell a lender; a pre-approval checks your credit and documents and usually holds a rate. Neither is a guarantee.Read →Rate holds on a pre-approval: how long, and what they coverA pre-approval rate hold locks a rate for 60–130 days (FCAC). nesto states 150, BMO 130, RBC, TD, CIBC and National Bank up to 120. Conditions and expiry explained.Read →What can break a mortgage pre-approvalNew debt, a job change, a credit hit, an expired rate hold, a low appraisal or untraced funds can break a pre-approval. Each one costed on a $550,000 offer, with the fix.Read →Mortgage pre-approval documents: what to gatherThe documents Canadian lenders ask for at pre-approval: ID, employment letter, pay stubs, T4s or NOAs, 90 days of down-payment statements, gift letters. Build yours.Read →Does a mortgage pre-approval hurt your credit score?Hard or soft credit check depends on the lender: RBC's online pre-approval is soft, TD says no impact online, CIBC and Scotiabank say it may affect your score.Read →After your offer: from pre-approval to final approvalWhat happens between an accepted offer and funding: the financing condition, the appraisal, final approval and the commitment letter, and how your pre-approval fits in.Read →Getting pre-approved as a first-time home buyerFirst-time buyers in Canada: minimum down payment, the 30-year insured amortization, the stress test, FHSA and Home Buyers' Plan. $105k income, $35k down: $511,800.Read →Self-employed? How to get pre-approvedHow self-employed Canadians get pre-approved: two years of NOAs, CMHC's 15% gross-up, Canada Guaranty's Low Doc Advantage, Sagen Alt. A, and a worked case.Read →New to Canada? Getting a mortgage pre-approvalNewcomers can get insured mortgages with 5% down: CMHC sets no minimum residency and accepts international credit reports. Insurer programmes compared.Read →Getting pre-approved with a lower credit scoreUnder a 600 credit score a mortgage can't be insured: you need 20% down with a lender that accepts it, at a higher rate. Options and repair.Read →
The pre-approval path, dated
The pre-approval path, dated: inputs, steps and result
Pre-approvedNovember 2, 2026, 120-day hold
Approved amount / price$520,000 / $560,000
ClosingFebruary 15, 2027
Hold ends2027-03-02
Closing vs hold15 days inside
Mortgage needed$520,63210% down; includes the $16,632 insurance premium; fits the $540,000 letter
Payment at the held rate$2,511/mo4.12%, 30 years

Open this example in the calculator →Computed November 2, 2026.

Mitey the yeti reaches out to the right, offering a hand.
Mitey walks a buyer along the path the guides follow: ready, pre-approved, offer accepted, funded inside the hold.

For deeper reading on qualifying rules by province and lender, our sister site MortgagePreApproval.ca has its own guide library.