The Mortgage Process

Providing you peace of mind.

My role as a mortgage broker is to provide you with the peace of mind that all details of your transaction are thorough with all options explored and the best option for your needs is presented.

Below is a step-by-step guide of the process and how I guide you through each of them.

Step 1: Initial meeting in person.
This initial meeting explains the process and allows you to share your situation, expectations and your needs.

Step 2: Organizing your mortgage documents.
In our initial meeting, I will review all the requirements and documents required in order to process the application.
This includes credit information, Pay Stubs, Notice of Assessments, Bank Statements, Investment Statements, and Expenses.

Step 3: Mortgage Pre-Approval
Getting pre-approved in the current market place is the first thing you need in order to move forward. The housing market in Brantford and Brant County is very competitive and listings that come on the market are usually subject to multiply offers and sold very quickly. Knowing your budget is a critical part of this equation that will enable you to focus on finding the right house at the price you can afford.

To get pre-approved, we do a thorough review of your income to maximum mortgage amount. This is obtained by reviewing your income statements and your credit report. Your credit report provides you with a “Beacon Score”. Beacon scores are credit scores, which are determined through a complex algorithm. It assigns a score between 0 and 850. A score under 600 says you’re a higher credit risk and a score of 680 or higher puts you in a low risk category with the lender (this is where you want to be). If you score is on the lower end of the scale, we can provide you with tips on how to get your score higher.

Step 4: Mortgage Consultation & Approval
Once you have your pre-approval, I work to assess mortgage options from available lenders and match them against your objectives. I review and present suitable mortgage option(s) and advice.

Step 5: Full Lender Approval
We will receive notification from the mortgage lender that the mortgage is approved a closing date will be set.