How To Get A Mortgage Loan Approval?

Step 1: Mortgage Pre-Approval: The lender reviews your financial situation to determine how much they are wiling to lend.

Step 2: House Hunting & Offer: The home buyer locates a home, negotiates the price, and signs a purchase agreement.

Step 3: Loan Application: The borrower completes a loan application with information about the home being purchased.

Step 4: Mortgage Processing: The loan processor gathers all of the information needed for the loan and creates a file.

Step 5: Mortgage Underwriting: The underwriter analyzes the loan file to determine if it should be approved or denied.

Step 6: Approval & Closing: The underwriter issues a final approval, and the home buyer attends closing to finalize the deal.

Do You Have Any Queries? Send me an email: beataw@dominionlending.ca