The Mortgage Process

The Mortgage Process

Whether it is your first mortgage, or your eighth mortgage – it all starts with a mortgage application.  Sometimes the mortgage process can get confusing.  My mission is to make the process as simple and understandable as possible. Here is a detailed outline of what you can expect during the process.

  1. Pre-Approval
    • Fill out application (Broker and Client)
      • DOB, SIN, Employment (3 years), Residence (3 years), Current Mortgage Information – if applicable
  2. Approval of Initial Application (Lender)
    • Rate Hold
  3. Find a Home and Place an Offer (Client)
    • Set Financial Waiver Date (7-10 Business days if possible)
  4. Approval of Mortgage
    • Fill out application with additional information regarding new home (Broker)
      • Real Estate Agent will provide the Offer to Purchase and MLS Listing
    • Submit to Lender (Broker)
  5. Receive Mortgage Commitment from Lender
    • Satisfy Remaining Conditions (Client)
      • Down Payment and Closing Costs
      • Employment
      • Payout Debts – if necessary
  6. Notify Solicitor of Pending Mortgage Papers to be Sent from Lender (Broker)
  7. Sign The Mortgage Centre Documents (Broker and Client)
  8. Sign off Mortgage Documents with Solicitor (Client)
  9. Now You Wait for Possession Date and Move In!

Apply For a Mortgage

Ready to apply? Fill out the secure application form to get started.