Think my broker just screwed up and cost me some $$. Asked for a pre approval for 2 properties, a house and a condo. She came back with a single pre approval, and said it was good for both properties up to the approved maximum $$, combined.
Discount rates are now drying up and I had locked in at a variable rate of prime -.75, so about 1.7% currently. I finalized offers on both a house and a condo in the last 2 days, sent her the docs for final approval, and now she's evidently waiting to hear back from the district manager or somebody from First National to see if they'll cover both under the same pre-approval. According to her, she was told "verbally" by whoever she deals with to submit it that way, but now she's all of a sudden concerned they will only honour one of the mortgages on the pre-approval, and I'll have to get another approval on the other mortgage. Sounds like she dropped the ball and I may end up with a higher rate on the condo mortgage. Think she mentioned a 5 year fixed at 2.64 so not horrible, but I wasn't very pleased.
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