Before you purchase that welcome mat, let’s start with a mortgage preapproval.

At Cornerstone, we ensure our pre-approval process is fast, simple, and will allow you to confidently navigate the homebuying process. Applying for a mortgage pre-approval at Cornerstone means that we provide you with a TRUE pre-approval.
What is a true pre-approval? 
It means that you’re pre-approved for a mortgage that you can actually afford without giving up your lifestyle you’re living today. We don’t want you to be ‘house-poor’, so we factor in the real-life stuff, so that you’re not left wondering how you’ll be able to pay those bills, or unexpected expenses, at the end of the day.

With your mortgage pre-approval, we’ll also walk you through the interest rate, term, and payment – where you can ask us any questions so you feel confident knowing exactly what’s in front of you.

Once you have your pre-approval, you can rest assured knowing that the interest rate provided to you is guaranteed for 120 days.
The best part? You can be pre-approved within 24 hours!*

*Based on providing all required documentation to Cornerstone.

Complete an application and receive your pre-approval amount along with a 120-day guaranteed interest rate. That's it!
If you are moving your mortgage to Cornerstone, make sure to inquire about our Mortgage Switch program, which could save you up to $1,250 on associated fees.

Documentation we require as part of the pre-approval process:
  • Employment/Income Verification
  • T4 slip
  • Recent pay stubs
  • Letter from employer
  • Income tax returns and notice of assessment (if self-employed)
  • Current listing of assets and liabilities
  • Confirmation of Down Payment and Closing Costs
  • Minimum of 5% down payment required
  • Savings / Investments – account statement
  • Sale of existing property – confirmed sale agreement with removal of all conditions
  • Gift letter

Added incentives for purchasing your first home.

If you're considering buying a home for the first time, you should also consider the programs, plans and incentives that are available to you and whether you qualify for these as a first-time homebuyer. 

First Home Savings Account

An investment arrangement available to Canadian residents aged 18 or older, that gives first-time home buyers a tax advantage option to save for a down payment.

The Home Buyers' Plan (HBP)

The Home Buyers' Plan (HBP) allows you to withdraw from your registered retirement savings plans (RRSP's) to buy or build a qualifying home for yourself or for a related person with a disability.

First-Time Homebuyer Incentive

The First-Time Homebuyer Incentive was put in place to help make homeownership more affordable for Canadians. The program offers 5 or 10% of a home's purchase price to put toward a down payment. 
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