Post # 1
I hear American bees complain about their loan officers from time to time.
Does the process usually go smoothly in Canada?
Is there term loan officer even used here? I have a mortgage broker, but what’s the person with the monoline called?
And so we can all have a better idea post how long it took for your mortage to be processed along with your location.
Post # 3
Vancouver- I was pre-approved for my mortgage, so as soon as I settled on the condo I wanted, I had the appraisal and inspection done the next day. The inspection was for my decison making. The appraisal was required by the bank.
Mortgage papers were signed at the lawyer’s office 2 days later.
Post # 4
We didn’t have a loan officer. We got pre-approved before looking for our house. Here, I think a 30 day turnaround time is standard to get your inspection done, all paperwork, final walk through, etc. Our process was smooth but did take the full 30 days. Closing took about 3 hours to sign everything and get everything answered that needed to be.
Post # 5
@julies1949: That’s really fast! We were preapproved, but it was done without all of the official paperwork. Our broker also typically works 9-5, M-F, and I emailed him documents on the weekend, but I’m fine with waiting for a little bit.
Post # 6
@AB Bride: The condo I purchased was vacant. The owner had already moved overseas. I had aready sold my previous place so there was nothing to cause any delay.