The Mortgage Approval Process

Getting pre-approved for a mortgage doesn't have to be a daunting process.

We understand that buying a home is likely to be the largest purchase you’ll ever make.

For this reason, it’s wise to ensure you are pre-qualified (pre-approved) by one of a knowledgeable and licensed experts.‍


Shafraaz Dossa

May 11, 2021


We’ve highlighted below a step-by-step process of what you can expect when going through our qualification process:

Step 1: Pre-Approval/Application

We want this part of the process to be as quick and painless as possible. Please provide as much detail as as you can on our secure online application form - this will help us process your application quickly and place you with the best lender possible. Another way to stay organized and help expedite the pre-approval process, is by having all income and property documents (for existing properties) on hand and ready to be reviewed.  

Step 2: Processing

Once your application is received by a member of our team, you’ll be contacted to review your application details and discuss your needs and specific goals. We’ll then prepare and send your application to one or more of our lenders for a mortgage rate hold (if you are looking for a new home/additional property), or approval (if you already own or have an accepted offer on a property).

Step 3: Acceptance

Once your loan application is approved, you will be sent a Mortgage Commitment. The Mortgage Commitment, also known as an approval letter, is a legal document which is an acknowledgement of agreeance from the lender to fund your loan. You will be required to sign and return this and any other requested documentation. Once these final documents have been approved by the lender, your loan will be ready to be instructed to your lawyer’s office.

Step 4: Pre-closing

Your mortgage is now ready to be registered! This is completed through an appointment with your lawyer or facilitating company, where your final mortgage documents will also be signed. The mortgage funds are then forwarded to the seller (purchase) or to a lender (existing mortgages - refinance, renewal, switch/transfer).

Step 5: Closing

The funding of your mortgage doesn’t mean our job is done. We are with you for the life of your mortgage - including reviewing your mortgage when your term comes to its end; refinancing your existing mortgage or assisting with the purchase of additional properties; right on through to the moment you become mortgage free!

Let's get started

At KV Capital, our experts will take the time to explore suitable financing options that meet your needs and our team will assess your unique circumstances and preferences to identify the most suitable financing structure available.

We encourage you to reach out today to speak with one of our experienced team members and learn more about how KV Capital can support you in your real estate financing journey.

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