Below is a guide of the mortgage process when renewing your mortgage or refinancing. The length of time may vary depending on the current mortgage lender and how long it will take to get the mortgages payout statement. This should be used for demonstrative purpose.
The mortgage is submitted to the lender for Approval.
Mortgage Review, Signing & Payout Statement Requested
Once the mortgage is secured, we review the terms and conditions, sign the commitment and request the payout statement from the current lender.
Payout Statement Received
Once the payout statement is received with the exact mortgage balance and property tax account, a closing appointment is scheduled.
The mortgage title is reviewed and updated with the new lenders information.