A synopsis of actions to home financing approval in Canada.

A synopsis of actions to home financing approval in Canada.

Entering a “live” home loan demand, some clients appreciate a summary regarding the home loan approval procedure from start all the way through to closing, where in fact the home loan is funded.

Take note, ahead of a “live” funding request you can find a few preparatory procedures or actions that needs to be completed in advance. The initial step is the Pre-Assessment or Discovery Call, followed closely by home financing Pre-Approval (steps 2 & 3 below) where the application and help papers have now been required, gotten and evaluated. Finally, we arrive at a “live” deal (actions 4 through 7) where funding is formally required, authorized, and funded. Continue reading