A synopsis of steps to a home loan approval in Canada.

A synopsis of steps to a home loan approval in Canada.

Entering a “live” home loan demand, some clients appreciate a summary for the home loan approval procedure from start all the way through to closing, in which the home loan is funded.

Please be aware, ahead of a “live” funding request you can find a number of preparatory procedures or actions which should be completed ahead of time. The first faltering step is the Pre-Assessment or Discovery Call, accompanied by a home loan Pre-Approval (steps 2 & 3 below) where the job and help papers have now been required, gotten and evaluated. Finally, we arrive at a “live” deal (actions 4 through 7) where funding is formally required, authorized, and funded.

The normal home loan approval procedure goes something similar to this: