If you are looking to buy a home in 2023, you are well aware of the very first step .... Get A Mortgage Pre-Approval. The 3 main components that the bank will take a look at when they are pre-approving you for a mortgage are: 1. Income How much money are you making? What kind of job you have? Are you salaried or self-employed? 2. Downpayment How much downpayment do you have? Where is the downpayment coming from? 3. Credit What is your credit score? What does your credit history look like? How many trend lines do you have? These are the main things the banks take into consideration when approving your mortgage, they will also look into your GDS (gross debt service ratio) & TDS (total debt service ratio). Don't make the mistake and start looking for homes without knowing how much you are able to get as a pre approval from the banks. Get in touch with us to go over your current situation and get you set up with one of our trusted mortgage agents so you can get one step closer to home ownership.