Presale Pro Tip Series: How to Protect Your Financing in a Long Presale Timeline
This article was written in collaboration with Liam Foran, Mortgage Specialist at RBC.
When you buy a presale, you commit today — but you don’t need your mortgage until completion. The challenge? You’ll need to re-qualify for financing when the project is finished, sometimes years later.
During that time:
- Interest rates may rise
- Mortgage rules may tighten
- Your financial picture may change (job shifts, new debt, life events)
- Appraisals may come in differently than your purchase price
These factors can jeopardize your ability to close, even if you were pre-approved when you first signed.
5 Ways to Protect Your Financing
1. Get a FIRM Mortgage Approval
RBC can offer firm mortgage approvals at time of purchase. The application process can often be completed even before the 7-day recission period ends.
2. Stay Employment-Stable
Major job changes, self-employment shifts, or career breaks can affect mortgage eligibility. If possible, avoid drastic changes before completion.
3. Manage Your Debt Load
Big purchases like cars, boats, or additional properties can reduce your borrowing power. Keep your debt-to-income ratio lean.
4. Guard Your Credit Score
Late payments, over-limit credit cards, or too many new credit inquiries can damage your mortgage approval.
5. Budget for Rate Hikes
Stress-test your budget against higher interest rates. Can you still afford payments if rates rise by 2–3% before completion?
6. Check In Regularly With Your Mortgage Specialist
Don’t wait until construction is done. Regular reviews help you spot issues early and adjust your strategy.
Expert Insight from RBC
“Presales are a long-term game. The best way to protect your financing is to think ahead - not just for where you are today, but where you’ll be financially in two to four years. I work with clients to monitor their eligibility throughout the build, so there are no surprises when completion arrives.”
— Liam Foran, RBC Mortgage Specialist
liam.foran@rbc.com | 
778-872-2301
Why RBC Stands Out for Presale Buyers
Unlike traditional pre-approvals, which expire after 90–120 days, RBC offers a firm presale approval that:
- Doesn’t require re-qualifying income at completion
- Locks in your purchase price without a new appraisal
- Caps your interest rate to protect against increases, while still allowing you to take advantage of lower rates if available at completion
This program gives presale buyers rare peace of mind in a market where so much is uncertain.
Local Insight: North Shore Presales
In North Vancouver and West Vancouver, presales often launch before shovels hit the ground. That means buyers face some of the longest wait times in Metro Vancouver - and the most exposure to financial shifts.
Partnering early with a mortgage specialist who understands presales (and has access to tailored products) is one of the smartest moves you can make.
Pro Tip: Don’t Leave Financing to Chance
Protecting your financing through a long presale timeline takes foresight, discipline, and the right partner. With RBC’s presale approval program and a mortgage specialist like Liam Foran guiding you through the process, you can plan with confidence.
Thinking of Buying a Presale on the North Shore?
Let’s make sure you’re getting the right unit, in the right project, at the right time — with no surprises. Reach out for expert guidance on North Vancouver and West Vancouver presales, and let’s walk through your options together.
