Welcome new clients!
We are excited to work together and help you achieve your mortgage goals. Our job is to help manage the stress of securing financing and place you in the most suitable mortgage for your situation. Everyone’s situation is different and at Tekamar, our clients receive an individualized and professional service. Once we start working together it is important to remember a few key takeaways, to help the process go as seamlessly as possible.
Contact If you have a live deal (accepted offer), please do not plan to go on a holiday or be unavailable during the subject removal time. We love vacations as much as anyone else but it is imperative that our office can contact you by either phone or email. Often, we need to clarify something, provide options, ask for additional documentation, gather signatures ect. The subject removal period can go by in the blink of an eye, it’s best if we are all on the same page. Head off to celebrate after your new mortgage closes!
Finances Buying a home is an exciting time, and we’re also excited for you! You might think now is a good time to get your financials tidied up, however; once we have a live deal it is crucial you do not start moving down payment money into or from a different account before you speak with your broker. To satisfy Canadian Anti-Money Laundering laws, we must be able to show 90-days banking history from the account(s) your down payment is coming from or has flowed through. Moving large sums of money can raise red flags and you could be required to show more documentation. This is one situation we have seen that can delay subject removal.
Contract After your home inspection has been completed and if you and your realtor decide to ask for a price reduction, this must be done before subject removal. A drastic change of purchase price could trigger an appraisal and questions about the property. Speak to your realtor and mortgage broker before making contract amendments.
Changes It is important from the time we submit your application for approval, till closing, all personal and employment info stays the same. Switching jobs or taking on more debt could negatively affect your mortgage approval and borrowing amounts.
Ask Questions! We understand not everyone has been taught how mortgages work. We like to provide knowledge to all our clients about their mortgages because it is imperative you understand what you are signing. We wont just send you documents and ask you to sign without going over the details with you.