Is your mortgage pre-approval worthless?

More than likely if you are reading this you have used a mortgage to buy a home in the Abbotsford, Mission or Chilliwack area. You most likely were savvy enough to work with a mortgage broker like us. Mortgage Brokers shop & fight for your right to low interest rates and better quality mortgage privileges. Your reward for working with an Abbotsford Mortgage Broker can be 10’s of thousands of dollars in savings and hopefully a fun, personalized experience.

When we are not shopping mortgages for our clients, we are making a difference for our clients by encouraging changes in the lending landscape of Canada through participation in our associations. Recently a new issue has come up. The Mortgage Insurers are constantly changing things such as the new potentially risk-based insurance premiums which they are currently talking about introducing. But this is not the mortgage default insurance policy we would like to see changed.

  • Pre-Approvals Save Time
  • Insurers won’t officially do a pre-approval
  • Pre-Approvals Save everyone money and heart break
  • We are the only local Broker/Bankers doing Pre-Approvals with Insurers 

CMHC, Canada Guaranty and Genworth (ALL 3 Canadian mortgage insurers) will not look at a client application until they have gone to the trouble to actually buy a house. This leads to disappointed and ‘turns-downs’ after home buyers spend weeks with a Realtor finding a dream home. Our firm has found work around to this to help save you time & money but it requires many complicated hoops and unnecessary time being wasted by all parties to get it done properly today. Why can’t we simply send in an application for a pre-approval?

So if your bank tells you that you are pre-approved, it may not be worth the piece of paper that says you’re pre-approved. We believe our extra effort in this area to properly obtain a CMHC approval sets us apart from our competition and makes our service more valuable but “come on man”, we have got to get these insurers looking at pre-approvals. I hate to see a dream home slip away from anyone because they were needlessly shopping with a improper pre-approval.

By Referral Mortgage Consultants*“Click, Call, Chat – Award Winning Brokers”
1 – 32540 Logan Ave
Mission BC V2V 6G3
& 360-3033 Immel StAbbotsford BC V2S 6S2&8387 Youg RdChilliwack BC V2P 4N8 Dave  604 897 2741 Jordi 604 615 1312


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*By Referral Mortgage Consultants – doing business as BRMC is: Verico Preferred Financing Inc / Verico Canadian 1st Mortgage Corp which have a co-brokering agreement and there is a common Mortgage relationship and are licensed with the Verico Dreyer Group. Mortgage ownership, that employees of both Mortgage companies may review, advise and help process the Mortgage files. That Verico Preferred Financing Inc & Verico Canadian 1st Mortgage Corp share the some expense and income from mortgages. Kim Langille Featured on thess site is an unlicensed mortgage assistant only, not a Mortgage Consultant. Jordi Browne featured on this site is the Mortgage Broker of record. “The Broker” is Jordi Browne. Jordi Browne also holds a Life Insurance License and represents Verico Canadian 1st Mortgage Corp. Dave Browne featured on this site has a Life Insurance License too but is an independent agent– Jordi and Dave Browne co-broker life insurance files and share expenses, all income retained by Verico Canadian 1st Mortgage Corp. 


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