The Mortgage Process
A Simplified Overview
Step 1 – Mortgage Pre-Approval
Arranging a pre-approved mortgage is one of the most important steps in the home buying process. It not only protects you in the event of an interest rate increase for up to 120 days, it also provides you and your realtor with a price range for looking at homes. With a mortgage pre-approval, you can shop with confidence.
Step 2 – Go Shopping
This is where the right realtor makes all the difference. Your realtor will help you find a property that suits your needs and also ensures any contract to purchase protects you. With such an important decision, expert guidance is a crucial element.
Step 3 – Mortgage Application Process
Once you have found a home and signed a contract to purchase, you contact our team. We will ask for updated income and down payment confirmation, as well as any other information required to complete the mortgage application (if not already done at the pre-approval stage.)
Step 4 – Subject Removal
Subject removal happens once you have received confirmation that your mortgage is unconditionally approved and/or your home inspection has passed. Your realtor and our team will walk you through this process.
Step 5 – Legal Documentation
At this stage, your realtor and our team will arrange for documentation to be sent to your lawyer. Usually the lawyer/notary will call you one to two weeks before closing to make an appointment for you to sign the mortgage and title transfer documents.
As Your Mortgage Experts, we will simplify the entire process of mortgage financing: We represent your best interest, aggressively negotiate with the banks for the best mortgage rates, do the paperwork, and ultimately, provide you with the best possible solution. The good news is there is no cost to you for this service!
Our objective is to help make the financing process as simple and stress free as possible. Whether you are purchasing a new home, refinancing your mortgage or wanting the best rate upon renewal, we look forward to working with you.
We have used Todd at Invis-Feisal & Associates for all our mortgage needs and we are ALWAYS impressed and extremely satisfied with the experience! Brandy G.
Contact Us
604.576.1412
1.866.576.1412
604.576.1413
info@YourMortgageExperts.ca
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News Update
Highlights of B.C.'s 2012/2013 Budget
HST to PST Information Bulletin - February 21, 2012
The province will transition back to the Provincial Sales Tax (PST), which will replace the Harmonized Sales Tax (HST), on April 1, 2013. Until then, the province has announced transitional rules for new homes which take effect April 1, 2012.
Kevin Falcon announces HST transition rules for new homes.
British Columbia will return to the PST on April 1, 2013.