As a part of getting preapproved make sure to ask:
Some clients, and even their trusted mortgage professionals may not make the realization that there is a difference between a pre-approval and a Pre-qualification. As a buyer you will want to make sure that you are getting a pre-approval so that you and your bank are well prepared to move forward with the process.
5. Do you have a HELOC product as an option as part of this mortgage? (if planning to renovate)
6. Is this the best rate you can offer us?
7. I know you can't tell us that we can put firm offers, but, what is your level of comforatability with our financial position? Are you comfortable without us having a finance condition in our offer?
8. If purchasing a condo*** Have you accounted for maintanence fees in your pre-approval figures?
9. Are there cancellation fees to transfer/ cancel our existing mortgage?
10. What does a port and blend situation look like?
11. How long is the rate hold for? With the rate hold do we need to close by that date, or do we need to have a firm deal by that date?
12. What are the savings over the term if I cancel and start a new mortgage at a lower rate?