If you need to apply for a mortgage loan to purchase a property, it is essential to understand the steps to follow. Our process consists of six steps which will make it easier for you to have a successful mortgage experience.
Conversation with your residential mortgage broker:
The goal is to understand your needs and resolve any concerns you may have. This step will allow us to create a collaborative relationship to achieve your real estate goals together. This initial step is the foundation on which we build comprehensive and personalized advice that adjusts to your specific needs.
Application and analysis of documents
In this step, the process takes shape with the diligence of the loan request or application as well as the collection and analysis of documents. In this phase we seek to identify not only the financing options available, but also programs that optimally align with your financial objectives and economic capacity, considering factors such as interest rates, payment terms and additional benefits that can optimize your experience.
Prequalification
With prequalification we will establish your financial capacity, estimate of your monthly payment and money necessary for the purchase, and then provide you with your pre-approval letter. This document is a valuable tool for your real estate agent (realtor) as it will be presented as support in an offer on a property of your choice.
Property Choice
At this stage you will make the choice of your future home based on the previously established financial parameters. In addition to our team of professionals, you will be accompanied by the real estate agent you have selected, who will guide you in exploring the real estate market and will assist you in selecting the home that meets your expectations and needs.
Final approval
Once we receive an executed contract and updated documents, our team of auditors immerse themselves in an thorough review ensuring that every detail is evaluated to avoid setbacks. This phase is crucial to provide you with the certainty that all the financial elements are in order and that the process is moving towards its successful conclusion.
Business Closing
Completion of the house purchase process, signing of documents and delivery of the keys to your new property.