Getting pre-approved is one of the most important steps before buying a home. It shows sellers that you’re serious, gives you a clear budget, and helps you shop with confidence. But should you get pre-approved online or in person? Both methods have their advantages, and the right choice depends on your financial situation, your comfort level, and how much support you want. Let’s look at both options so you can decide which path works best.
1. What Is Mortgage Pre-Approval?
A mortgage pre-approval is when a lender reviews your finances and provides a written estimate of how much you can borrow. This includes a look at your income, debt, credit score, and employment history. With pre-approval, you’ll know your maximum purchase price and often lock in an interest rate for 90 to 120 days. This makes it easier to shop for homes within your budget and gives you peace of mind that you’re ready when you find the right property.
2. The Growth of Online Mortgage Pre-Approvals
In Canada, online mortgage pre-approvals have grown in popularity thanks to digital platforms like Homewise. The process is designed to be fast, simple, and accessible from anywhere. In less than five minutes, you can enter your details and receive a pre-approval estimate from multiple lenders.
Benefits of online pre-approval:
- No need to book an appointment
- Instant results in most cases
- Ability to compare multiple lenders at once
- Available 24/7 from your phone, tablet, or computer
For busy professionals, tech-savvy buyers, or those who prefer flexibility, online pre-approvals save time and make the process easier.
3. Benefits of In-Person Pre-Approval
While online options are convenient, many Canadians still prefer to sit down face-to-face with a mortgage advisor, broker, or bank representative. This approach can be especially helpful if your financial situation is more complex.
Benefits of in-person pre-approval:
- Personalized advice tailored to your unique goals
- A chance to ask detailed questions in real time
- Extra support for buyers with complex files (self-employed, credit challenges, or new to Canada)
- Guidance on improving your application if you don’t qualify right away
If you value personal connection and want someone to walk you through the details, in-person pre-approval can be the better option.
4. Comparing the Two Options
| Feature | Online Pre-Approval | In-Person Pre-Approval |
| Speed | Fast, often instant | Slower, requires booking |
| Convenience | 24/7 access | Business hours only |
| Personalization | Automated | Human-led advice |
| Best for... | Simple profiles, busy people | Complex files, first-time buyers |
5. Which is More Accurate?
Some buyers worry that online pre-approvals are just rough estimates. This is true for basic tools that don’t verify documents. But platforms like Homewise provide full pre-approvals that include document verification and are backed by real lenders. In these cases, online pre-approval is just as reliable as in-person, as long as you complete the full application.
6. Combining Online and In-Person for the Best Results
You don’t have to pick just one approach. Many Canadians start online to get quick results and then follow up with a mortgage advisor for more detailed guidance. This hybrid approach gives you the speed of online tools and the personal advice of in-person support.
Final Thoughts
Both online and in-person mortgage pre-approvals are valid and effective. The right choice depends on your preferences and financial needs. If you want speed and convenience, online pre-approval is hard to beat. If you want in-depth advice and support, in-person may be the way to go. Either way, getting pre-approved early is one of the smartest steps you can take when preparing to buy a home.
FAQs
1. Is online mortgage pre-approval legitimate?
Yes. As long as you’re using a regulated platform connected to real lenders, online pre-approvals are safe and accurate.
2. Do I need to go in person for pre-approval to be valid?
No. Online pre-approvals are accepted by lenders if they are fully underwritten and include document verification.
3. Can I get a better rate online or in person?
Rates vary more by lender than by method. Online platforms often give you access to a wider selection of lenders, which can help you find the best deal.
4. Does mortgage pre-approval cost money?
No. Whether done online or in person, pre-approval in Canada is free.
