Once we get to the 'Live Deal' stage, it's time to submit your application and documentation package to the lender for approval.
A live deal is when you have an accepted offer to purchase a home or you ok for our team to start the approval process of your mortgage refinance or renewal.
Important: Our team will follow up with any additional or updated document requirements. Lenders require current employment and asset verification dated within 30 days of your accepted offer or mortgage approval.
At this time, the lender reviews your information and documentation to verify the data presented. Usually, we receive a follow-up within 24-48 hours, but please let me know if you have any questions during this timeframe.
We will notify you as soon as we receive your mortgage approval from the lender. Getting your mortgage documents signed back and completed in less than five business days is crucial to your seamless mortgage financing. Since we always ensure that we cover all the relevant details required for mortgage approval – this should be a speedy process.
After your mortgage file is lender complete or 'Clear to Close' (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. The signing usually takes place in front of a notary or lawyer. Be prepared to:
- Bring a certified check for your down payment and closing costs if required.
- Review the final loan documents at the lawyer's office. Make sure that the interest rate and mortgage terms are what our team promised you. Also, verify that the name and address on the mortgage documents are accurate.
- Sign the loan documents and make sure you complete any lawyer requests on or before the required timeline provided.