You want the absolute lowest rate possible? Then your only option is to do a "self-service mortgageTM". Just like at a gas station or shopping outlet, if you choose the "self-service" option, your prices are often cheaper. Mortgages are now easier to obtain and can be researched by anyone with an internet connection. Many customers such as yourself are so well informed that many of you know more than your own mortgage broker, when it comes to the best mortgage for you.
So, if you know what you want and you want to be in control, then why not apply for a mortgage from us? At MortgageQuote.ca, we have automated the mortgage application process so there is no need for a "middle-man". By taking out the "middle-man", we can pass the savings on to you.
Frankly speaking, the internet has increased the competition for retail mortgage business and the process of applying for a mortgage has become a commodity; where the lowest price gets the customer. At MortgageQuote.ca, our customers get the lowest price!
Self-Service MortgagesTM: 1 - Print out the 1-Page mortgage application. 2 - Complete the application and the Borrower Acknowledgement, sign, date and fax/scan back to our offices. Email to underwriting[at]mortgagequote.ca. or fax to 1-866-948-7283 or upload using our doc-uploader. 3 - Include two pieces of ID, per applicant. As per our MortgageFraudWatch Program. 4 - MortgageQuote.ca reviews your application package to see if it is complete. A complete application has two pieces of ID (per applicant), Signed and Dated Application form and Borrower Acknowledgement form. If two pieces of ID per applicant are not provided, or a Signature or a Date is missing, you will receive a Notice. 5 - If you are unable to provide two pieces of ID per applicant or other requested matter, your application will be cancelled at this stage. 6 - MortgageQuote.ca now reviews your application contents. At this point, we have confirmation that "you are who you say you are", so now we will review your application contents. If your application is missing some important items, you will be notified. Missing items may consist of Birthdate, Property Details, Employment Details, Income Details. 7 - If you are unable to provide a response to our Incomplete Application Request, your application will be cancelled at this stage. 8 - MortgageQuote.ca has successfully determined your application is complete so now it will evaluate your situation and obtain a credit bureau report on you and your co applicant (as required). 9 - If there are any questions arising from your credit bureau report, you will be sent a notice requesting clarification. 10 - If you are unable to provide a response to our credit bureau questions, your application will be cancelled at this stage. 11 - MortgageQuote.ca has successfully obtained and analyzed your credit report and will now send your file to the cheapest lender, based upon the strength of your application and your credit report. 12 - You will be provided a conditional mortgage approval from a lender. 13 - If you agree with the approval, you will sign, date, initial all the pages, then send back to MortgageQuote.ca. Along with the approval documents, you will provide all of the conditional documents, such as Job Letter, Paystub, T4, Proof of Downpayment and anything else the lender requires. 14 - If you are unable to agree to the mortgage approval options, and do not sign the mortgage approval, then your application will be cancelled at this stage. 15 - MortgageQuote.ca will order an appraisal (which you will be responsible to pay for) at this point. 16 - MortgageQuote.ca will followup with you on any other missing information. 17 - After the lender reviews all your documentation and the appraisal, the lender will sign off on your file and it will be sent to the lawyers for funding. It looks complicated, but this is the routine in most mortgage transactions. If you want a faster way to your money, then why not look at our Equity Lending Solutions? Most of the steps are eliminated when you are borrowing equity. | Self-Service RatesTM: Email us for current pricing at underwriting[at]mortgagequote.ca |
