A home-buying process typically begins with a mortgage prequalification. This is an informal step where you provide basic financial information (income, debts, assets, etc.) to the lender, often without verification. Lenders include banks, credit unions, insurance companies, and loan companies. In most cases, banks fulfill this role. Among them are National Bank, Bank of Montreal, Desjardins, RBC Royal Bank, and others. These institutions directly provide funds and offer interest rates. 

Mortgage prequalification determines the maximum loan amount you may be granted for purchasing a property. It’s an approximate estimate, not a formal commitment from the lender. This step generally doesn’t require detailed documents and can be done online or by phone. Prequalification usually doesn’t involve a thorough credit check, so it doesn’t affect your credit score.