Buying a home: finding it, financing it, insuring it – and all the other steps involved – isn’t a simple process.
Helping you understand that process is part of my job as a mortgage broker, and this blog brings you info you need in bite-size pieces. So my last few blogs have been in a series format, detailing the professionals you’ll work with through the process. The next series describes how the home financing process works, again in smaller chunks to make it a clear, easy-to-understand process.
Centum Future Mortgage Group arranges residential, commercial and construction mortgages. As a solution driven organization, Future Group believes that a mortgage solution exists for everyone, regardless of income or credit concerns. We believe that every consumer deserves the best rates, care and service when purchasing or refinancing a home or business.
The final installment of this seven-part series lists what information you should have at hand when you do the mortgage application.
Enjoy and, as always, I would be happy to answer any additional questions you may have regarding the purchase of a home or on how best to finance the purchase. Please contact me at 519-649-2502 Ext 3, firstname.lastname@example.org
INFORMATION REQUIRED AT THE TIME OF APPLICATION
Good preparation has you assembling all the possible documentation you may require to present to your mortgage broker at the time the application is completed, or at some point subsequent to the initial meeting.
In today’s environment many applications are done online, so scanned or faxed documents are acceptable. The most commonly requested documents are as follows:
- Proof of person, photo ID and social insurance number
- Proof of income, employment letter, recent pay stub, two years tax notice of assessment
- A list of assets and liabilities
- Statement of mortgage(s) on a current home
- Proof of down payment, three months of bank statements, gift letter
- A voided cheque
- Lawyer’s information