STEP 4: Get Full Lender Approval

Getting your mortgage documents signed back and completed in less than five business days is a crucial part of your mortgage financing going smoothly. Since we always ensure that we cover all the relevant details required for a mortgage approval – this should be a very quick process.

We will receive notification from the mortgage lender that the mortgage is approved a closing date will be set. In this case of purchase this will be the date you take possession of the property that you purchased. In the case of a mortgage refinance there is also a closing date set … and contrary to popular opinion – failing to not fund on or before that date can absolutely void your mortgage approval. Make no mistake about it – if market conditions change there is no question that lenders will absolutely cancel your mortgage commitment.

Watch this one minute video to learn how to get a full approval

Please do not go out of town during the closing date. If you do plan to be out of town when your loan is expected to close, you should consider signing a power of attorney to authorize another individual to act on your behalf.

Funding the Mortgage – The Closing Table

After your mortgage file is lender complete (meaning there are no longer any borrower conditions outstanding and the mortgage is ready to fund), you will be required to sign the final loan documents. This will normally take place in front of a notary or lawyer. Be prepared to:

Remember closing costs for purchases can be substantial, especially for luxury home and high end developments, so be sure to make sure your plan for the costs and liquidity to be ready. Closing costs for mortgages can also be large if you refinancing a big bank or non-conforming mortgage loan… so make sure you get the closing costs and other costs in writing – every time!

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Get Started And Make It Easy For Yourself

We’ll help you find the best mortgage for your current financial situation and goals. When you come to us, you’ll find that planning for the right home is easy and simple.