No consulting fee. No credit analysis fee. Here is exactly what to expect.
The loan process, when adequately prepared for, can be fairly simple. Real World Mortgage Corp. is available 7 days a week to guide you through every step.
Speak with us first to find out exactly what documents you will need to support your application. Requirements differ for every individual and are determined by your type of employment, credit history, and a number of other factors. This is the single most important step in ensuring a smooth transaction. We will provide you with our Minimum Submission Package Guide.
Our online application takes less than 5 minutes to complete. A credit consent form is included, which allows us to complete your credit analysis. Combined with your application, we can precisely calculate your maximum borrowing power and give you quality, informed advice on your options.
Set up a home search with your realtor. If you are not currently working with a realtor, we can provide trusted referrals. Using a realtor to purchase a home will not cost you anything — realtors are traditionally paid by the seller. An experienced realtor will negotiate on your behalf and ensure all paperwork is handled correctly.
Once your offer is accepted, you enter the contract's condition period. The financing condition gives us a specific amount of time — typically 7 to 10 business days — to secure your optimal mortgage solution. Simple approvals may take only a few hours. More complex situations may take a few days. We keep you informed throughout.
Once your conditional approval is in place, we will provide a clear list of the supporting documents needed for final approval. Because we collected the majority of these documents proactively in Step 1, there is usually very little left to do. Once all conditions are met, you waive your financing condition and you have a firm contractual agreement to purchase.
At least 30 days before your possession date, the mortgage lender sends your real estate lawyer the mortgage instructions. Your lawyer will contact you, schedule your appointment, and provide a list of what they need — typically two pieces of photo ID, a certified cheque for the balance of your down payment, and proof of fire insurance. If you do not have an experienced real estate lawyer, we can provide trusted referrals.
There are many more details involved, but we handle those for you. We are available to provide information and guidance 7 days a week. Thank you for choosing Real World Mortgage Corp.