Great question. If you are reading this now after our initial conversation, you have likely decided to have someone work with you to obtain financing options, and, you probably like that it will be easier and faster than doing it yourself. This is what a Mortgage Broker is here to help with, and I am excited to be a part of your journey. Before I forget, communication is going to be key and feeling comfortable to ask any question is important. I truly believe that no question is a silly question. That said, in reading the Written Service Agreement you have learned…

You have already been provided (by email) with your own Document Checklist which is detailed to suit you and your circumstances. Please note these documents are curated to every client’s personal needs. That said, it is still a good thing to understand what could be expected of you, should you wish to become the expert of your own financing and prevent any worries in finding a document or two you may only see once a year. Especially if moving or if this is not an area of strength for you. For us to start working together I ask that you provide…

What is the difference between a pre-approval vs. an approval? Another great question! A pre-approval is a snapshot of how your application looks at a moment in time and holds onto an interest rate for a short period of time for you (which is often 120 days). In some cases, you can have the interest rate held longer and if available this will be discussed with you. A pre-approval is not a guarantee of a mortgage approval and you, along with the property, will need to re-qualify for that financing you are seeking within 120 days of the closing date/date of completion…

Now that you have the lenders approval you will work with me to get the approval completed. Good news here is you will likely not have as much to do in this step as you did in Step 2. When you hear me refer to a ‘condition’ that the lender has asked you to meet, what I mean by this is that they are looking for you to prove to them what you’ve held forward in your mortgage application. For example, if you are an employee earning an annual income of $50,000 or said you had a $50,000 down payment, they…

Looking back and being proud of what you’ve just achieved is important so make sure you take some time to soak that in! And then, go back to the drawing board! Try to make some more plans on how you see yourself becoming the expert of your own financing. I hope you have found this additional information on your next steps helpful; however, if you have any further questions or concerns please do not hesitate in letting me know!