Pre-qualification will give you the confidence to start looking for a Winnipeg home to purchase.
The bank or mortgage broker will do the basic checks and calculations to see if how much house you can afford based on the information they get from you.
Make sure you give them all the information and that it is accurate because when they do the final approval if they find out that you were not accurate about your debts for instance you could be refused a mortgage by that lender.
And if you are dealing solely with a bank you will have to start the process all over again.
This one of the many reasons why using a mortgage broker has it's advantages.
If they are refused by one lender they have 10 more they can apply to and you don't have to start over with the paper work.
By taking care of these points before you start to look at houses, you can be confident and go about the process of finding your ideal Winnipeg home!
And you will find that the Winnipeg Real Estate market is a great place to invest in a home.