GETTING YOUR MORTGAGE APPROVED:
- Determine your Budget and get pre-approval
Your mortgage Agent / Broker will work with you to get you pre-approval for a mortgage to determine how much you can afford - Gather Documentation
Your broker will work with you to collate the documents required for your mortgage application. - Home Appraisal and Underwriting
Once you finds your home and your offer is accepted (or the Mortgage amount is determined for an application for Switch / Refinance / Equity Take Out), your mortgage Agent/Broker will identify the best lender / product to suit your needs and prepare your file for underwriting by the chosen lender. Appraisal will be requested as per the lender’s request to support the value of the property. - Review and Sign
Once the approval is obtained from the lender, you will review the approval documents with the Agent/Broker before the signing the commitment - Closing
Once all outstanding conditions on the approval documents are satisfied, instructions will be sent to your lawyer to handle the closing.