Stages of the Mortgage Journey


Stage One

This is the welcome stage.

At this first stage we have a welcome call to discover your mortgage needs.

From this call you will receive an email with with notes from our conversation, an application link as well as a calendar link to book a time to review your application together.

By being able to book your own follow up review time, you are able to control the pace of your mortgage journey, whether you need results right away or are in no rush.

This stage takes approximately 15 minutes.

Stage Two

This is application completion stage.

Based on your answers in the application, the application will let you know the documents that will be required for your purchase.

The documents are optional at this stage however will be required in the near future (Stage Four).

This stage takes approximately 10 minutes.

Stage Three

This is the application review stage.

At this stage we will have a call to review your application in detail together and answer two main questions:

  • Can I purchase a home?
  • What is the maximum purchase price I qualify for?

After our review call, I will email you a detailed summary of the application information used for your pre approval and what the results are.

Once you are pre approved, you are ready to start home hunting however completing the documents review stage will be very important to assure the accuracy of your pre approval results.

This stage takes approximately 30 minutes.

Stage Four

This is the document collection stage.

This stage and the next stage are the most important stages. They assure an accurate pre approval, a faster lender review once you have an accepted offer and an overall smoother journey.

The goal of this stage is to collect and upload all your documents into the secure portal so that they can be reviewed in advance of you making an offer on a home.

This review will confirm there are no differences between your application information and your documents that could negatively affect your pre approval.

Also, this stage assures all your documents are together in advance of making an offer so that once you find a home and have an accepted offer, everything is ready to send to a lender.

Prior to uploading your documents, it's very important to review the documents guide.

Lenders are very specific about the documents required for a purchase to assure they meet lending guidelines and the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The guide also details why particular documents are requested, how they need to be presented and provides sample documents.

Click here to review the documents guide.

Stage Five

This is the documents review stage.

This is another very important stage.

Once you have reviewed the guide and uploaded your documents to the portal, please schedule a call to review your documents together with my documents expert.

This stage helps assure all your documents meet the requirements and to update you if any changes or other documents are required.

This stage takes approximately 15 minutes.

Stage Six

This is the mortgage process review stage.

Now it is time to learn all about the mortgage process.

For this stage, I have a screen-share presentation where you can watch my screen and we review topics together such as:

  • Who is Andrew Thake?
  • What is a mortgage broker/agent?
  • Do you have to pay for my service? (Spoiler alert, my service is free to you)
  • The difference between a bank and a mortgage broker/agent
  • When do we pick a lender and rate?
  • How do we pick a lender and rate?
  • Common challenges to avoid
  • How to have a great mortgage experience

This stage takes approximately 45 minutes.

Stage Seven

This is the staying in touch stage.

You are now pre approved, your documents have been reviewed and you know all about the mortgage process.

While home hunting, there may be some time that passes from when you are pre approved to when you have an accepted offer on a home. During this time I am here to assist with any questions that may come up.

This ongoing stage may be made up of many little touch base calls and emails as questions arise.

Click here if have any questions and you would like to review them together.

Stage Eight

This is the lender and mortgage options selection stage.

You have now made an offer on a home and your offer was accepted.

At this stage there is the option to review a presentation that will help guide you on:

  • banks, credit unions or monoline lenders
  • types of mortgage (i.e. fixed rate or variable rate)
  • payment frequency (i.e. monthly or bi-weekly)
  • mortgage options (i.e. pre payment privileges, porting and more)

Once the review is done and a lender and options are chosen, your application will be sent to the lender for review.

This stage takes approximately 30 minutes.

Stage Nine

This is the application and documents sent to the lender stage.

At this stage your application and documents have been sent to the lender for their review.

If putting down less then 20%, a mortgage insurer (i.e. CHMC) will also be reviewing your application.

This stage takes approximately one to three business days.

Stage Ten

This is the lender's additional requests and questions about your application stage.

The lender has reviewed your application, documents and property and may ask for additional documents, have questions or require an appraisal.

My assistant will contact you to review what the lender requires.

Once your documents, answers and/or the appraisal is received, the lender will review and we will update you once an update is received from the lender.

Stage Eleven

This is the approval or conditional approved stage.

The lender has approved your mortgage. Also they have issued a mortgage commitment (contract) that we will review together.

The review and signing with be done via DocuSign.

At this time, if the mortgage details are to your satisfaction, the commitment can be signed as well.

This stage takes approximately 30 minutes.

Stage Twelve

This is the final stage.

Congratulations, all is complete with your mortgage and the lender has sent your mortgage instructions to your real estate lawyer.

I wish you many happy years ahead in your new home!

Why not make your mortgage experience a comfortable one?

Book an Appointment