Expert Mortgage Brokers | Thornhill Mortgage Lenders
1264
page-template-default,page,page-id-1264,ajax_fade,page_not_loaded,,qode-child-theme-ver-1.0.0,qode-theme-ver-6.1,wpb-js-composer js-comp-ver-4.3.5,vc_responsive
 

Thornhill Mortgage Lenders

Thornhill Mortgage Lenders

A Home Loan Checklist can be of great use to anyone that is looking to borrow money from banks and financial institutions to purchase a home or refinance your mortgage.
The following checklist will be helpful giving you an idea of what you may be asked to provide as part of the application process:

General Information

MLS Listing. As soon as you receive a copy of the MLS Listing from your real estate agent, please forward a copy to us. This contains a lot of valuable information which will help us to speed up the application process for you.

Purchase Agreement. As soon as you have the Purchase Agreement signed and finalized, you should send this by fax or email to our office

Personal Information

Social Insurance Number (SIN) and Date of Births. All lenders require these from you and your spouse or co-borrowers.

Divorce or Separation Papers. We require a copy of the divorce papers as well of any details regarding alimony, maintenance or spousal / child support payments.

Current Address and Phone Number. If you have lived at your current address for less than 2 years, please provide information regarding your previous address.

Your Employment Information

Employer(s) verification. Names, addresses, and telephone numbers of your employers for the past 2 years.

Income verification. In most cases lenders will require either your Notice of Assessment (NOA) for the previous year, or a Letter of Employment (LOE) plus two most recent pay stubs showing year to date earnings.

Self-employment documents. If you are self-employed, we need to know your gross and Net income for the previous year and we will also require a copy of your T1 General (T1G).

Financial Information

Assets. Lenders need to know what assets you own such as Registered Retirement Savings Plans (RRSPs), GICs, stocks, and bonds, vehicles, other properties.

Liabilities. A lender will need to know the current mortgage balances, lines of credit secured and unsecured loans, credit card debt, vehicle loans or leases.

Requirements For Closing

When it comes to closing, there are a number of things that the lawyer is going to need from you in order to close the file. They will contact you directly for this information. Typically, be prepared to bring your ID (health card is not acceptable) and also proof that your property insurance has been changed to reflect the new lender.

Speeding up the process

You can call it a checklist or a series of procedures or steps involved in the process. These steps or checklist items will help speed up the application process.
In order to get you the best mortgage rate with Thornhill Mortgage Lenders we need you to provide as much information to us as possible and as accurately as possible. The better and more complete the information that you provide the quicker we will be able to get you the right.
Working through this checklist and being prepared to provide this information as soon as possible will help us get the best rate available for you through Thornhill Mortgage Lenders.