Mortgage pre-approval
Lock in your rates with our 130-day mortgage rate guarantee – the longest of any major bank in Canada‡
Know your budget and shop with confidence
It’s free, easy and there’s no commitment
Cash Back offer
Get up to $4,100 cash back† with a new qualifying BMO mortgage until June 27, 2025.
Why get pre-approved for a mortgage with us?
Lock in your rates for 130 days‡
If rates rise, you’ll get to keep your lower pre-approved rate.
Know your budget
You’ll know exactly how much you can afford with no unwanted surprises.
Shop with confidence
The real estate market can be competitive. Getting pre-approved shows real estate agents and sellers that you’re serious about buying a home, giving you more leverage in negotiations and an edge on the competition.
How to get pre-approved for a mortgage
Get your information ready
You’ll have to provide some personal information to help us determine how much you can borrow and at what rate.
Get in touch with us
When you’re ready to get started you can apply online, reach out to your local branch or ask one of our mobile Mortgage Specialists to come to you.
Get pre-approved and start shopping
After you provide your information we’ll usually get back to you in a day or two, and your terms will be locked in for 130 days‡
What do I need to get pre-approved?
Getting pre-approved is easier than ever, but you should still be ready to provide some personal information about:
- Your liabilities: including debt, credit cards, loans and other financial information
- Your assets: including bank accounts (location and account numbers), investments, vehicles, boats, and other real estate
- Your valid Canadian ID: like a driver’s license or passport
- Your employment: like a recent pay stub, letter from your employer, or your T1 for the last two years if you’re self-employed
Mortgage pre-approval Frequently Asked Questions
A pre-approval basically says that a lender (like us) will loan you a certain amount of money at a certain rate so that you can afford to buy a home. There’s no fee, no commitment and you can apply online!
Every situation is different. Depending on how long you’ve been in Canada, where you’ve lived, and your financial information, you may still qualify for a mortgage pre-approval. Visit your nearest branch or get in touch with a Mortgage Specialist for more information.
Short answer: Before you start house-hunting.
Long answer: It’s a good idea to get pre-approved before you start looking for a home. A mortgage pre-approval will help you set your budget and your expectations by letting you know how much you can afford. It’ll also signal to real estate agents and sellers that you’re serious about buying a home and have the money to back it up.
If you apply with a Mortgage Specialist or at your nearest branch, then we’ll usually get back to you in one or two days. It’s that quick!
Yes, you can get pre-approved by as many lenders as you want but remember that each additional pre-approval might affect your credit score.
If you get pre-approved for a fixed-rate mortgage and rates suddenly increase, we’ll still honour the original lower rate for up to 130 days.‡ You can’t lose!
Mortgage pre-qualification‡‡ is your first step in determining how much you can potentially afford for a home. There’s no hard credit check required to get a general estimate and it’s based on information such as income, assets, and debt. Answer a few questions and get pre-qualified in just a minute.
Mortgage pre-approval‡ tells you how much you can borrow based on a hard credit check to get a detailed review of your credit report, and your personal and financial information provided in your application for a pre-approved mortgage. Pre-approval remains subject to there being no material change to the information you provided to us at the time of pre-approval.
Whether you’re just starting out with a pre-qualification or you’re ready to apply for a pre-approval, shop for your next home with confidence. Lock in your mortgage rate for 130 days – the longest of any major Canadian bank.‡ Kickstart your homebuying journey here.
Helpful mortgage pre-approval resources
Mortgage Pre-Approval vs. Pre-Qualification
Getting pre-qualified or pre-approved can help you move forward in the homebuying process. Discover the differences and which one is best for you.
First time homebuyer programs
As a first-time home buyer, you have access to some great incentives, tax credits and resources to help you turn your home-ownership dream into reality.
Mortgage Affordability Calculator
Find out how much home you can afford and what your monthly payments will be before you start house hunting.
Ready to get started?
Start your online pre-approval
Apply anytime, anywhere to see if you’re pre-approved in less than 10 minutes.
Talk to an expert
Let’s chat about your mortgage options. One of our Mortgage Specialists will even come to you!
Call us today
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