Throughout my experience as a North Vancouver mortgage broker, I have learned the importance of my clients being able to understand the mortgage process as we work through it together.

While the process might not be the exact same from client to client, most cases follow the same basic step and require the same general information.

I know that taking the first step into the mortgage process can potentially be the most difficult aspect of the entire process because there are so many unknowns, especially for first time home buyers. This can make the process of obtaining a mortgage appear intimidating or overwhelming.

With an award-winning mortgage broker on your side, it doesn’t have to be either of those!

The following mortgage checklist has been designed to help you organize your thoughts as you embark on the life-changing adventure of securing financing for your dream home. This list should help ease your mind about the steps you will be going through along the way and help you articulate any questions you may have for me about the process.

Mortgage Checklist:

  1. Get your finances in order
    1. Create a budget of what you believe you can afford
      1. Use a mortgage calculator to help with this step
    2. Open a savings account for your down-payment and add this savings into your monthly budget.
    3. Make sure to include other additional expenses in this budget, such as for home inspections and surveys, among other things
  2. Keeping your budget in mind, begin your search for the perfect home
  3. Once you have begun to narrow down your search, contact a mortgage broker, like myself
  4. Collect all identification and financial documentation requested by your mortgage broker
  5. Speak with your mortgage broker about getting a pre-approval for your mortgage and fill out any applications that apply
  6. Continue to narrow down your home search now that you are armed with a pre-approval and a more accurate financing budget
  7. Place an Offer to Purchase on the home you choose and have an inspection performed
  8. If your offer is agreed to, and the sale is to go through, now is the time you can purchase home insurance, go through the house one more time and finally close on your new home
    1. Don’t forget to bring a cashier’s check for the down payment to the closing

At this point, you have officially completed the mortgage process and have successfully secured your North Vancouver mortgage and purchased your home!

It is my hope that this mortgage checklist will assist you during the mortgage process, but should you have any additional questions, I am always available to answer them!

If you have decided to move forward with the mortgage process, give me a call today!