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How does mortgage pre-approval work?

Mortgage pre-approval is an important step in the process of buying a property, which allows you to know your borrowing capacity. Your mortgage is calculated according to several criteria, including your credit score. 

Getting a mortgage pre-approval confirms the maximum amount that National Bank will lend you, under certain conditions 1, and freezes the interest rate for 90 days 2.

Free of charge and with no obligation, the pre-approval demonstrates the seriousness of your intentions to sellers, and your real estate broker.

Dreaming of becoming a homeowner? Get pre-approved now.

Are you buying your first home?

  1. The rate may be guaranteed for up to 90 days after receipt of the pre-authorization request.
  2. To apply for a mortgage pre-approval, you will need to provide a pay stub and T4 statement or notice of assessment as proof of income. You must also have reached the age of majority in the province where you are applying. The mortgage pre-approval is only valid for a property located in Canada, excluding the territories (Yukon, Nunavut, and Northwest Territories). To apply online, you and your co-borrower (if applicable) must currently own, in total, one property or less, whether you own it jointly, individually, or with a third party.

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