Getting a Mortgage

Mortgage Guide: 4 Simple Steps

Getting a mortgage doesn’t have to be complicated. Follow these four steps to make the process clear and stress-free.

1. Assess & Apply

• Review your finances: how much you have and how much you need to borrow.

• Determine a comfortable monthly budget.

• Submit your application via phone, in person, or online. Your mortgage associate will verify your information and start the process.

2. Choose Your Mortgage

Pick the program that fits your goals:

• Fixed Rate: Stable payments, ideal for long-term homeownership.

• Adjustable Rate (ARM): Flexible payments, suitable for shorter stays or rising income.

• Combination Rate: Mix of stability and flexibility.

• Line of Credit: Borrow what you need, pay interest only on what you use—great for renovations or debt consolidation.

3. Submission & Approval

• Provide all required documents to your mortgage associate.

• Wait for lender approval.

• Submit any additional requested documents within 10 days to keep the process on track.

4. Lawyer & Closing

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• Your lawyer reviews and signs mortgage documents.

• Check that all details—names, addresses, terms—are correct.

• Bring a bank draft for your down payment and closing costs.

• Provide proof of homeowners insurance and any additional required coverage.