Step 1: Initial Consultation
We start with a conversation about your goals
This includes:
- Purchase price range
- Down payment
- Income and employment
- Credit profile
- Monthly budget comfort
The goal is to understand your financial picture and recommend the right mortgage strategy — not just a rate
👉 Consultations are free and come with no obligations
Step 2: Document Collection
Lenders require documentation to verify your financial situation
Common documents include:
- Government ID
- Proof of income (pay stubs, T4s, NOAs)
- Employment letter
- Bank statements
- Down payment verification
- Credit authorization
Providing documents early helps avoid delays later in the process
Step 3: Mortgage Pre-Approval (Optional but Recommended)
A pre-approval confirms how much you can borrow and locks in a rate (typically for 90–120 days)
Benefits:
- Know your price range before house hunting
- Strengthen your offer when buying
- Protect against rising interest rates
Pre-approval is not a final approval, but it’s a powerful planning tool
Step 4: Application Submission
Once you’ve found a property (or are refinancing), your full application is submitted to lenders
At this stage:
- Property details are reviewed
- Your financial documents are verified
- A lender evaluates risk and approval conditions
As your mortgage professional, I shop multiple lenders to find the best product to fit your specific needs and situation
Step 5: Conditional Approval
Most approvals come with conditions that must be satisfied before funding
Common conditions include:
- Property appraisal (if applicable)
- Updated income verification
- Down payment confirmation
- Signed documents
Meeting conditions quickly helps keep your closing on schedule
Step 6: Final Approval & Legal Process
Once conditions are satisfied:
- The lender issues final approval
- Your lawyer/notary prepares closing paperwork
- Mortgage funds are released on closing day
At this point, you’re officially a homeowner! (or successfully refinanced your mortgage)
⏱ How Long Does the Process Take?
- Pre-approval: 24–48 hours (sometimes same day)
- Full approval: 5–10 business days (can be faster)
- Closing timeline: typically 30–90 days depending on purchase agreement
Delays usually come from missing documents — fast communication keeps everything moving
💡 Tips for a Smooth Application
- Avoid large purchases during approval
- Don’t open new credit accounts
- Keep employment stable
- Respond quickly to document requests
- Ask questions anytime — clarity prevents stress
🤝 Why Work With a Mortgage Professional?
As a mortgage professional, I will:
- Shop multiple lenders for you (some only accessible through mortgage brokers)
- Explain options in plain language
- Handle paperwork and negotiations
- Be an advocate for your approval
- Save you time and reduce your stress
You get guidance from start to finish — not just a rate quote
Kevin McDonald
Mortgage Agent Level 2
Licence #M22003975
Connect With Me
Mortgage Outlet Brokerage #12628
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