Get pre-approved for your mortgage instantly.

Absolutely. We stand by our Instant Pre-approvals as being an accurate reflection of how much home you can afford, and that lenders will happily provide you with a final approval once you get an accepted offer. Certain conditions apply: terms and conditions

Your Instant Pre-Approval is valid for 120 days. However, If your employment status changes, or your debts increase in a material way, unfortunately, your IPA will be cancelled. Contact your mortgage broker immediately so that they can help you reassess the situation and confirm the amount for which you are eligible under these new circumstances. For full details see here: terms and conditions

At Wiseday, we are committed to your privacy and protecting your personal data. Wiseday encrypts all your data at the highest security standards. By using our Instant Pre-Approval solution, you only give Wiseday temporary one-time restricted access to select information from your financial institution. This information is never shared with 3rd parties. We simply use your information to determine what mortgage amount you can obtain.

With Plaid, you can securely connect your financial accounts to Wiseday in seconds. Plaid only shares your data with your consent. Plaid does not share your personal information without your permission, and Plaid does not sell or rent it to outside companies. For more information: https://plaid.com/why-is-plaid-involved/

We use something called an Equifax soft credit check. We specifically verify your Fico score. Soft credit inquiries have no impact on your credit score. If a lender checks your credit report, soft credit inquiries won’t show up at all. Soft inquiries are only visible on consumer disclosures—credit reports that you request personally. For more information: https://www.equifax.com/personal/education/credit/score/will-checking-your-credit-hurt-credit-scores/

Mortgage professionals use 2 main ratios to decide if borrowers can afford to buy a home: Gross Debt Service (GDS) and Total Debt Service (TDS). This calculator will give you both. GDS is the percentage of your monthly household income that covers your housing costs. It must not exceed 39%. TDS is the percentage of your monthly household income that covers your housing costs and any other debts. It must not exceed 44%. For more information on these calculations, including guidance on which rental income to include in your household income, see Calculating GDS and TDS

Without knowing the specifics of which property you're purchasing, we cannot accurately calculate or hold your fixed interest rate. Interest rates differ based on a number of factors that are specific to the property you eventually purchase. Therefore guaranteeing a pre-approved rate would simply be misleading and Wiseday is not in the business of making promises we can't keep.

Once you've been instantly pre-approved by Wiseday it means you've passed through strict internal credit criteria, identity, and income verification. we designed our credit decisioning algorithm to be an exact representation of what our lending partners look for when providing final approval for a mortgage. Therefore, once you've made an offer with Wiseday, we'll present you with multiple options to choose from, depending on the exact property you purchase.