Owning a home is a dream for many, but navigating the mortgage process can be overwhelming. Luckily, we have broken it down into 5 simple steps to help you start on the homeownership path.
Want to visualize the process? Check out our timeline.
Step 1: Options
We have access to over 90 lenders with dozens of solutions to suit your mortgage needs. During your initial consultation, we will review your situation and provide an overview of mortgage options best suited to your needs. This is a great opportunity to ask questions and discuss any concerns.
Want to start your initial application? Do so here.
Step 2: Collection
When applying for a mortgage, you must provide a variety of documentation to your lender. This includes a credit report, agreement of purchase and sale (or estimated mortgage amount if you are refinancing), proof of income/employment, down payment amount, identification, and solicitor information.
Confused about what you need? We are happy to help you prepare, gather, and send this documentation to the lender.
Step 3: Submission
Once you have given us all the necessary documentation, we will submit your mortgage application to the appropriate lender with the mortgage product that best suits your needs. As we work with dozens of lenders, from banks to credit unions to trusts and private options, we can use negotiating power to get you the best mortgage your needs.
Step 4: Approval
After your mortgage application has been reviewed and approved, you must sign. At this point, you will obtain approval documents, including payment details, mortgage terms and privileges, and any pre-funding conditions (if they apply). If your closing date is more than 30 days away, we can hold the approval documents and help you monitor the market. We'll finalize the approval documentation when you are 4 weeks away from closing.
Step 5: Closing
Closing day is the final step to homeownership. Your signed documents will be submitted to the lender with all supporting information. The lender will review and approve the final documents and send their instruction package to your lawyer. When you meet with your lawyer, they will require final identification and signatures and review your closing costs. On the closing day, the mortgage funds will be transferred to your lawyer to close the sale.
Contacting an expert is important if you are considering purchasing a new home or your first home. We can provide advice and expertise to ensure you get the best mortgage product for your needs. By following these five easy steps and working with a professional, you can make your dream of homeownership a reality.
Want to get started? Contact us today.