Are you a First Time Home Buyer?
You've decided to buy your first home - Congratulations!
The home buying process can be both exciting and overwhelming at the same time - but your team of Professionals is there to help every step of the way!
Continue Reading for a break down of what you can expect from the Pre-Approval process and the Approval process
First Thing's First: Get Pre-Approved!
Set yourself up for Success by connecting with a Mortgage Broker for an Underwritten Pre-Approval to find out exactly how much you are qualified for
An Underwritten Pre-Approval is where your documents are reviewed in advance before affordability is provided
Read our WHY TO USE A MORTGAGE BROKER page to learn what sets us apart from your regular bank!
01 Book a Mortgage Consult with Us
We like to start with a casual chat about your home buying goals, and answer any questions about the mortgage process up front
we are flexible on meeting times and have options to connect - over Zoom or in the office with evening availability as well
02 Complete a Mortgage Application
Our Application process is quick and easy and is done online at your convenience via your very own secure client portal
03 Submit your Documents
To prepare an Underwritten Pre-Approval, we need to review your documents to ensure your affordability is calculated accurately.
The last thing you want is to make an offer on a home and have it fall apart because everything was not reviewed ahead of time!
04 Get your formal Pre-Approval and Rate Hold
Once we've had a chance to review your application and documents, we prepare a comprehensive Pre-Approval for you, outlining multiple options that may be available to you, and also submit your file for a "rate hold" to secure the best available rate for you for up to 120 days while you search for your home
Next Step...
Connect with a Realtor & Start Shopping!
As a home buyer, a Realtor's services are complimentary to you, and it is advantageous to have one represent you!
Check out our
RECOMMENDED PROFESSIONALS
page for a list of our respected colleagues that we highly recommend working with!
05 Property & Affordability Review
A Unique service we offer that sets us apart is that we review the property details of every property you are interested in to ensure your affordability remains in line.
Our review of these details advance allows you to place an offer on the home with confidence!
Approval Process
You found the perfect home and your offer was accepted! Now What?
06 Review Application Structure
Once your offer is accepted, we will have a quick meeting to review your mortgage preferences so we can accurately prepare your file and submit it to the lender
07 Conditional Approval
The first response we get from the lender is a "conditional approval", pending review of all of your documents such as income & downpayment.
This is also where the lender will add any additional requirements to finalize the approval, such as if an appraisal is necessary.
08 Inspection, Subject Removal, Deposit, & Approval Document Signing
Once you have a conditional approval, you proceed with an inspection, Appraisal, strata doc review, etc if applicable
Once all due dilligence is completed, we advise whenyou can remove subjects and place your deposit on the home!
09 Insurance, Lawyer Meeting, & Possession Day!
The final steps include signing your mortgage approval paperwork with us and preparaing to sign additional paperwork at a Lawyer's office a few days before closing.
Once of the items you'll have to arrange before meeting with the Lawyer is Home Insurance - we have insurance partners that can work with to obtain a quote for you to make the process as convenient as possible.
