REFINANCE OR FINANCE

Replacing your old mortgage with a new mortgage? Renewing your mortgage? Placing a mortgage on your mortgage free home? Securing a second mortgage? To help simplify the process, one of the first correspondences you will receive from us is an introductory letter. The information in our introductory letter is as follows:

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What do we need to know from you?
  1. We require the amount of your current years interim or final property/realty tax bill and the amount paid to date.

  2. Loan/reference numbers and branch/bank address, phone and fax number for any and all mortgages and/or lines of credit that we need to pay out.

  3. If we are paying out any credit cards we need the account numbers and copies of your most recent statements.

  4. Copy of Fire Insurance binder. You can ask your insurance company to fax it to our office. The insurance binder is to have the new lender listed as the first loss payee.

  5. If your property is a condominium, you should have a copy of the current fire insurance binder in your annual general meeting packet. Alternatively you can ask your property management to provide you with a copy of the current insurance binder.

  6. If your property is a condominium, you may be asked to provide a status certificate depending on the mortgage lender.

  7. Marital Status and date of birth of each person on title.
Signing legal documents

On attending at our office to sign closing documents (usually a day or two prior to closing), you will be required to provide at least one photo ID (driver’s license, passport, citizenship card)along with another piece of ID, which may be one of the above listed or a major credit card.(Health cards are not acceptable).

Closing Day

On the closing date, the transaction takes place sometime between 2 & 5pm. Funds cannot be released until registration takes place. We will notify you as soon as the deal has registered, at which time funds will be available for pick-up.

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