If you are applying for a mortgage to buy a new property and your application is affected by the coronavirus, you can apply for an extension. If you don`t want advice or help with your application, make sure you`re willing to take responsibility for choosing a mortgage that`s right for your situation. If you wish to apply without advice, you can apply online. The single survey may be enough to insure a mortgage. However, if the property is older or the survey raises concerns, you may also want to conduct a structural study. Applying with advice means that one of our mortgage advisors will help you through the application process and advise you on the mortgage that best suits your needs. You can get advice by phone or at a national branch. Just so you know that you will first receive a decision in principle (DIP) when applying for a mortgage. This allows real estate agents to know that you have in principle a secured loan when positioning offers on real estate. Once you have your DIP, you can use it to apply for a mortgage immediately. Once you have made a decision in principle, you can make an offer for a property. You can make an offer before you have a DIP, but your decision in principle will show the seller or real estate agent that we would be willing to lend you, subject to your complete mortgage application and underwriting.
Here are a few other things to keep in mind: As with your current mortgage, you must receive a Policy Decision (PID) before completing a complete mortgage application. With the DIP, we can confirm in principle that we would be willing to lend you money. You can apply for a DIP online, by phone or in the store. Fixed Rate – Your interest rate is fixed, so your monthly payments remain the same during the agreement period. Once you have a DIP and have accepted an offer for real estate, you can complete your complete mortgage application. At this point, you choose a mortgage, indicate how to pay the product fees incurred and let us know your deposit source. If you`d like to get an idea of our mortgage offerings before applying, check out our mortgage interest rates to see the features and fees of mortgage products. You can apply at the branch or by phone with advice or online without advice. We do a soft credit review as part of the DIP process. Flexible credit checks have no impact on your credit score. . .