Talk to a broker when buying a homeTalk to a broker when buying your first home.

Buying a home can be a confusing process.

Our aim at Global Mortgage is to make the home buying and mortgage process as simple and clear as possible. Our three step process is outlined below.

Understand your financial plan.

It is our belief that the more you know about how the mortgage process/business works and how it relates to your financial plan, the greater your comfort level and the more confidence you feel in making mortgage decisions.

The process of purchasing a home and getting a mortgage.

Summarized below is the process of purchasing a home and getting a mortgage. If you are a first-time home buyer or new immigrant in Canada, you may also want to download and read the very comprehensive Home buying: Step by Step CHMC Guide and Workbook. Having the knowledge helps you prepare everything that is needed in order to significantly lessen the hurdles that can occur in your home buying experience.

Step 1: Consultation and Pre-Approval

The Consultation.

As part of our initial discussion with you, we will discover and review exactly what you want to accomplish and you will get answers to all the questions you may have about the mortgage or the process and establish the overall direction you want to take. This can be done over the phone in most cases or in person if you prefer.

Help with the pre-approval application.

Once the overall direction is set, our mortgage specialist will have you complete our simple mortgage application, either the traditional way, pen to paper or by using our secure online application.

Once the application for pre-approval has been received, your Global Mortgage Specialist will contact you to arrange a suitable time to meet in order to solidify an understanding of your mortgage needs. We will check to make sure that we have enough information to get pre-approval and will submit the application through our lender network to find a suitable lender.

Why get pre-approved?

  • The benefits of the pre-approval process
  • It helps you understand how much you can borrow
  • Helps you understand what you can afford
  • Puts you in a stronger position for negotiating with the seller
  • Guarantees your interest rate for up to 120 days with some lenders
  • Get approved, click here

Pre-approvals are the place to start, even before house hunting. Getting approval before you apply for a mortgage or loan can help you understand how much you can borrow – and how much house you can afford. Getting one means a lender pre-approved you for a specific mortgage amount and interest rate, providing a written confirmation or certificate so you are better prepared to shop for a new home. You'll have a clear picture of what you can realistically afford in terms of price, down payment, fees, and other expenses. Also, pre-approval puts you in a stronger position when you are negotiating with the seller, because the seller knows that your loan is already approved. Real estate agents will often serve you better because they know you are a serious and committed buyer.
See Documents Required for Mortgage Approval

Fill out our mortgage application form, “get approved here”!

A pre-approved mortgage guarantees your interest rate for up to 120 days depending on the lender, even if rates go up. If rates go down while you're finding your dream home, you will receive the new lower rate. This protection could save you a substantial amount of money if interest rates are fluctuating while you are house hunting. Best of all, a pre-approved mortgage puts you under no obligation and is available to you at no cost.

Step 2: Approval and Offer to Purchase

Many confuse the terms “Pre-approval” and “approval”. If you are pre-approved for a mortgage, yes you may go shopping for a home – but it doesn’t mean that you are guaranteed a mortgage! You or your realtor will need to submit the Offer to Purchase to us along with the property listing. After we receive it, we will request a mortgage approval from the lender that pre-approved you for the mortgage.

The “approval” is supplied by the lender when all of the information we relayed to the lender is verified! For example, we will have to supply the lender a letter of employment and a paystub to “verify” that you make what we’re telling them.

Your mortgage specialist will be dealing with you directly on this, and will make this process as seamless as possible!

Step 3: Close and Finalize any Particulars

Once all of the conditions for the mortgage are verified, the lender will package your mortgage up and send it off to your Notary Public or lawyer whereupon they will call you in for meeting to sign the loan documents and to finalize any particulars of the mortgage. Your legal team will also be handling the disbursements of the funds, and the registering of your name at land titles.

Global Mortgage helps with the final details.

Questions always rise when going through the mortgage process, and your mortgage specialist will be there for every step of the way to assist you with your questions and concerns. Every mortgage transaction is different, and you are no exception. You have needs and we want to assist you with those the best we know how!