Obtaining An Edmonton Mortgage
Demystifying The Process Of Getting A Mortgage
If you haven’t experienced it before, the home mortgage process can feel overwhelming, but our agents will help you stay informed throughout the process, from pre-approval to closing. The first thing to do is consult with a mortgage specialist (or two). If you don’t already have someone in mind, we partner with some of the best lenders in the industry, and we’d be happy to introduce you, so you’ll be taken care of.
Get Pre-Approval
Before you start looking for a home to buy, it’s a good idea to meet with your Mortgage Broker to get pre-approved for an amount. At this stage, the lender gathers information about your income, assets and debts of the borrower (you) to determine how much house you may be able to afford. This includes a credit report, pay stubs, tax returns and recent bank statements. There are a variety of different mortgage programs, so make sure to get pre-qualification for the specific programs that best suit your needs.
We Help You Get The Best Mortgage
Start The Process
We’ll help you find the best local mortgage broker to get you competitive rates and the programs that best fit your individual needs. Fill out this form and we’ll connect you with a lender today!
Application & Processing
What happens when a mortgage goes "live"
When you find a property you’re ready to buy, your lender will help you complete a full mortgage application, and talk you through the various fees and down payment options. The application is submitted to an underwriter, where the documents are reviewed and any required appraisals are ordered to obtain approval.
Closing
Signing and Finalizing the deal
Don’t be surprised if you’re asked for additional documentation or clarification throughout the process. Once your mortgage is approved, don’t forget to set up your homeowners insurance. Your documents will be sent to your chosen lawyer, where you’ll sign for your new home and pay any remaining disbursement costs. Then, you wait for possession and get access to your keys. Congratulations, happy homeowner!
