home | about us | site map | contact us

home mortgages commercial mortgages calculate mortgage payments view current mortgage rates how to use a mortgage learn about mortgages
apply online home mortgage refinance home purchase mortgages home equity loans home finance mortgages home loan types home mortgage rates home mortgage calculators mortgage articles home mortgage faqs
FAQs

home > home mortgages > FAQs > general > process

What is the home mortgage loan process?

With The Mortgage Store Online, the home mortgage loan process has the following steps:

Home mortgage loan process step #1: Application

The first step of the home mortgage loan process with The Mortgage Store Online, is your application.

You can:

  • Apply online
  • Call The Mortgage Store Online's brokers with home mortgage loan application information
  • Fax The Mortgage Store Online's brokers your home mortgage loan application

Fill out the home mortgage application.

Home mortgage loan process step #2: Prequalification

The second step of the home mortgage loan process The Mortgage Store Online, is mortgage loan prequalification.

What is mortgage loan prequalification? Prequalification means it's very likely you can get a home mortgage loan, as long as your home mortgage loan application information is correct. (The Mortgage Store Online's brokers will verify your application information after your prequalification).

Once you've given The Mortgage Store Online your application, one of the brokers here will contact you in whatever way you prefer (phone, email, fax) to tell you if you prequalified for a home mortgage loan.

Get prequalification today! Fill out the home mortgage loan application.

Home mortgage loan process step #3: Underwriting

The third step of the home mortgage loan process with The Mortgage Store Online, is mortgage loan underwriting.

What is mortgage loan underwriting? Underwriting is what The Mortgage Store Online's brokers do: they verify all the information you filled in on your home mortgage loan application.

Start the mortgage loan process today! Fill out the home mortgage application.

Learn more about home mortgage loan underwriting

Home mortgage loan process step #4: Qualification

The fourth step of the home mortgage loan process with The Mortgage Store Online, is qualification.

What is mortgage loan qualification? Qualification means you can get a home mortgage loan - for sure! Yay!

Once you've given me your application, and a broker here has verified your application information, they'll contact you in whatever way you prefer (phone, email, fax) to tell you if you qualified for a home mortgage loan.

Get qualification today! Fill out the home mortgage application.

Home mortgage loan process step #5: closing

The fifth step of the home mortgage loan process with The Mortgage Store Online, is the closing of your mortgage-loan.

Closing your home mortgage loan is the final step of the mortgage loan process. Once you've decided to accept The Mortgage Store Online's lender's commitment (about how much money they'll lend you, and how they'll lend it to you) your broker will start closing your home mortgage loan for you.

The closing of your home mortgage loan will include:

  1. The lender sending home mortgage loan closing instructions for your home mortgage loan to the lawyer
    Just so you know: if you are using one of The Mortgage Store Online's institutional lenders (like a bank or trust company) you will be able to choose your own lawyer for the closing of your home mortgage loan. If you are using one of The Mortgage Store Online's private lenders, sometimes they want to use their own lawyer, but otherwise you will be able to choose your own lawyer.
  2. The lawyer giving home mortgage loan documentation to the lender before the lender gives out the home mortgage loan funds
  3. The lawyer giving final home mortgage loan documentation to the lender
  4. The lender giving the home mortgage loan funds to the lawyer
  5. The lawyer giving out the home mortgage loan funds to the various individuals entitled to them which may include:
    • The property purchase price to the vendor
    • The property taxes to the government
    • The home mortgage loan closing costs, which includes mortgage loan broker fees, mortgage loan lender fees etc.

Start the home mortgage loan process today! Fill out the home mortgage application.

Want to find out more info about home mortgage loan faqs topics? Then contact The Mortgage Store Online's brokers by using the contact form or by calling them at 1-866-880-2577.

<< return to general mortgage faqs

Home mortgage loan faqs

apply online | home mortgage refinancing | home purchase mortgages | home equity loans | home finance mortgages

home loan types | home mortgage rates | mortgage calculators | mortgage articles | RSS feed icon home mortgage news

home mortgage loans | commercial mortgage loans | calculate mortgage payments | view current mortgage rates

how to use a mortgage | learn about mortgages | privacy policy | disclaimer | RSS feed icon mortgage news & tips

home | contact us | mortgage glossary | about us | site map

The Mortgage Store Online, Inc.
Canadian Head Office: 54 Vansittart Avenue Woodstock, Ontario, Canada N4S 6E4
Home Mortgages: Phone: 1-866-880-2577 Fax: 1-866-270-1984
Commercial Mortgages: Phone: 1-866-674-0548 Fax: 1-866-876-3956

Copyright ©2016 The Mortgage Store Online, Inc. All rights reserved.

 Equal Housing Lender