Living Room

The Switch Process
STEP-BY-STEP

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Step 1

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Step 3

CONTACT YOUR MORTGAGE BROKER TO GET YOUR REFINANCE APPLICATION STARTED

FILL OUT THE ONLINE APPLICATION AND UPLOAD THE DOCUMENTS YOUR BROKER REQUESTED. SIGN THE CONSENT FORMS THAT ARE EMAILED TO YOU.

YOUR BROKER WILL CONTACT YOU TO DISCUSS YOUR OPTIONS FOR A BETTER SUITED LENDER.

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Step 4

Step 5

YOUR BROKER WILL SEND THE MORTGAGE TO A LENDER THAT WILL BEST SUIT YOUR GOALS & NEEDS.

AT THIS TIME YOU MAY NEED TO HAVE AN APPRAISAL DONE ON THE PROPERTY. WE WILL ARRANGE THIS ON YOUR BEHALF.

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Step 6

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Step 8

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Step 11

WHEN WE HAVE AN APPROVAL, YOUR BROKER WILL COLLECT FROM YOU THE PAPERWORK & SIGNATURES NEEDED TO FINISH MEETING THE LENDERS CONDITIONS.

YOUR BROKER WILL HELP YOU SET UP MORTGAGE LIFE AND DISABILITY INSURANCE.

YOUR FINANCINCING CONDITIONS WILL BE WAIVED.

A WEEK PRIOR TO YOUR CLOSING DATE YOU WILL SIGN THE FINAL MORTGAGE DOCUMENTS WITH A LENDER PROVIDED LEGAL FIRM. THEY WILL REGISTER YOUR NEW MORTGAGE TO TITLE AND PAYOUT THE PREVIOUS LENDER.

A FEW OF OUR BANKS DO REQUIRE YOU TO ATTEND AN IN BRANCH SIGNING APPOINTMENT. THE BANK WOULD CONTACT YOU TO SETUP YOUR APPOINTMENT.

FEEL FREE TO CALL US IF YOU HAVE ANY QUESTIONS ABOUT YOUR MORTGAGE OR ANY OTHER FINANCIAL NEEDS. WHEN YOUR MORTGAGE IS UP FOR RENEWAL WE WILL SEND YOU A REMINDER SO THAT WE ARE ABLE TO HELP GET YOU THE BEST POSSIBLE RATE AGAIN!

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Lawyer Fees
(Usually Lender Paid)

$1200-$2500

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Property Appraisal
(If Required, Usually Lender Paid)

$300-$600