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Presale Mortgages

Interior Modern Brick House

At what point should i get an approval?

Similar to a regular mortgage and home purchase, you should get pre-approval before you start viewing any potential properties.

Am I able to lock in a rate in advance?

  Many banks  and lenders offer builder cap style mortgages where you can lock in a rate longer than 120 days, although they tend to  come with a 1-2% premium. We help our clients secure these mortgages and then reevaluate rates 120 days before completion to ensure they get the best deal possible.    

What if there is a delay in construction?

This tends to happen quite frequently with new builds although no need to worry as we just go back to the lender and look to extend the approval. If the rate hold expires, we will then just re price at that time for you. 

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