We have noticed that the market is picking back up and almost as hot as this weather we are having! With that being said we wanted to provide you with a “how to” and a step by step process to obtain a mortgage approval:
- First step is to take a Mortgage Application – we can do this over the phone or we have a secure online application
- Upon receipt of application, we will contact you “the client” by phone and go over all of the details and your goals
- Request documentation – Lenders are requiring this upfront before issuing approval or working on your application
- Documents can be uploaded to our secure client portal or emailed to us directly
- Files are generally approved by most lenders in 24-72 hours, lender dependent
- Once Approval is received then we will send the details over to you to review
- Appraisal will be required in most cases. If down payment is less than 20% then NO appraisal is needed (Appraisals are taking place about 2-3 days after they are ordered)
- Documents are then drafted and sent over to you to sign electronically. We will schedule a phone call or Zoom meeting to go over all details of the mortgage with you
- Once signed documents are received they will be sent back to the lender
- Update from lender approving and signing off on all conditions
- We need to know which lawyer or notary you wish to work with for completion
- We continue to monitor rates on your behalf to ensure you are obtaining the best rate right up until your mortgages closes
- We will verify all details with the lawyer/notary prior to your signing appointment with them
- Your mortgage funds!
We continue to monitor your mortgage for you, if you have any changes… for example: you want to change the frequency or put a lump sum down, increase the amount you are paying, find out how much you owe – we can do all of this for you! Each year on your mortgage anniversary we do something called an annual mortgage review where we make sure you still have the best rate out there. If we think we can save you money, we absolutely will!
Contact us at the office to have us fully look after your mortgage and obtain 5 star service!