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Thorne and Thorne Barristers and Solicitors  


I have been pre-approved for a mortgage loan. Do I still need to make my offer subject to financing?

Yes. Pre-approval for a mortgage loan does not mean that a lender will approve financing for the purchase of any particular piece of real estate.

It is wise to seek pre-approval for financing, as it will give a Buyer an idea of what kind of real estate is reasonably available, but a lender will need to review any contract and usually obtain an appraisal prior to finally approving financing.

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The general opinions expressed herein are for information purposes only and are not to be relied on. Individuals are encouraged to seek legal advice as it relates to their specific fact scenario to ensure they are fully aware of their legal rights and obligations.

Thorne and Thorne
Barristers & Solicitors