Are you considering purchasing a property or refinancing to bring new projects to life? Before taking the next step, properly preparing your mortgage application is essential. A well-organized file not only helps streamline the process, but also improves your chances of securing favourable financing conditions. Below are the key elements to consider to set yourself up for success.

 

A stable financial situation is at the core of any mortgage financing application. It is therefore important to adopt good financial habits both before and during the process. Whenever possible, avoid applying for new credit or making large financed purchases, as these decisions may affect the assessment of your application.

 

Be sure to make all payments on time and maintain a reasonable level of debt. Sound account management demonstrates reliability and helps build lenders’ confidence. Employment stability is also a key factor—when possible, it is best to postpone any job or employment status changes until the transaction is finalized.

 

A clear and well-prepared application helps prevent unnecessary delays. Financial institutions require documents that are complete, legible, and up to date. Partial or poor-quality documents can significantly slow down the processing of your request.

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When purchasing a property, the down payment is a determining factor. The higher it is, the more it may help you access favourable financing conditions. It is also important to plan for additional available funds to cover expenses related to the transaction.

 

Your credit score plays a major role in the evaluation of your mortgage application. It affects not only whether your application is approved, but also the terms that may be offered to you. Taking the time to review your credit report allows you to anticipate and address potential improvements.

 

If needed, simple actions—such as paying your bills on time or reducing outstanding balances—can help strengthen your profile. A strong credit score is a valuable asset when seeking better financing conditions.

 

With Planiprêt, you are not alone. Your mortgage broker supports you throughout the process and negotiates the best financing options on your behalf. Contact us today.