Belleville & Prince Edward County Real Estate Market Update – August 2026Summer may be winding down, but what is the real estate market doing?The August 2026 numbers are in for Belleville
How to be 'Mortgage Ready'
Dated: April 6 2022
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Are you ready to buy a home??
How to be “Mortgage Ready” so you can start shopping!
- The first step is to see how much you could be approved for. You can’t go shopping if you don’t know how much you’re able or comfortable to spend.
- You will need to reach out to a Mortgage Agent. They will want to have a quick discussion with to see what your needs are and ask you to fill out a Mortgage Application.
- The Mortgage Agent will provide you with a list of financial documents that will be required by the Lender. The documents will vary depending on how you get paid – for example are you self-employed or a salaried employee? Lenders will require items like, your T4’s, Notice of Assessments, proof of your down payment, paystubs, just to name a few. It can take some time to gather these documents so if you are thinking of buying a home; it’s important to get working on this right away.
- The Mortgage Agent will also need to pull a credit bureau. Typically, in order to get preferred rates, a Lender likes to see a minimum 680 credit score. If your score is lower, then your Mortgage Agent can provide you with some tips to help increase your score.
- Once the Mortgage Agent has all your documents in order, they will submit to a Lender for a rate hold/pre-approval. A rate hold is usually for 120 days maximum. Once we have the rate hold your Realtor, June can start showing you properties!
It is important to secure a rate hold/pre-approval, especially in today’s market with rising rates.
If you would like to see how much you qualify to purchase, please feel free to reach out to Kim Coulson from Mortgage Alliance, Lic. #M14002027 @ 905-466-5349 or kim@kimcoulson.com
June Gill
Real estate isn’t just about buying and selling homes — it’s about people, life changes, and making big decisions with confidence.As a real estate professional serving Belleville, Pr....
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