You can always get pre-approved; as a matter of fact, it’s important to get pre-approved. I’ll give you some ideas why it’s so important to get pre-approved.

You need to know the price range you’re in. A client could be out shopping, looking around, been on the web, driving around to all the open houses, and has found a great house that he has already shown the wife and kids, before falling in love with it.

So they go and make an offer on the home, thus taking the house off the market away from other buyers while going through the process of your financing – but then you find out you don’t qualify. So now you as a buyer are spoiled because anything else you look at won’t compare to this house that you can’t afford. So that’s a problem.

Another thing that’s really disappointing is that you’ve actually hurt somebody. You’ve actually hurt the sellers of the property. You’ve actually taken their property off the market and might have prevented them from selling to someone that’s actually qualified.

Catch Bill Macklem of Dominion Macklem Mortgages at BilliMac.com every Saturday morning at 10am on the AM650 Radio Real Estate Show in Metro Vancouver with host Tom Lucas and Sheri Brown.