Home Buyers Guide
Closing Your Mortgage
You have secured your mortgage approval and signed the documents your Sunlite Mortgage agent sent to the lender. The lender will now send mortgage instructions to your solicitor for you to sign to execute the mortgage agreement to make the closing a smooth and rewarding experience. The following are the steps you must take.
Step 1: The Lender’s Instruction to the Solicitor
Once you have signed the mortgage documents and returned them to us, the lender will promptly forward them to your solicitor. The lender will also send detailed instructions to your solicitor, outlining the final steps required for the mortgage closing process.
Step 2: Reviewing and Signing Legal Documents
Your solicitor will carefully review the legal documents related to the mortgage, ensuring everything is in order and complies with the lender’s requirements. The solicitor will contact you to schedule a closing date, during which you will be asked to sign the necessary legal paperwork.
Step 3: Mortgage Funds and Closing Costs
Your solicitor will request the mortgage funds from the lender. These funds will be used to complete the purchase of your new home. Additionally, your solicitor will provide a detailed breakdown of all closing costs, including legal fees, land transfer taxes, and other applicable expenses.
Step 4: Property Title Transfer
On the closing date, your solicitor will facilitate the transfer of the property title from the seller to you, the borrower. This process ensures that you officially become the legal owner of the property.
Step 5: Mortgage Registration
Once the property title is transferred to you, your solicitor will proceed to register the mortgage on the property. This registration is a legal document indicating that the property is collateral for the mortgage loan.
Step 6: Closing the Deal
The closing process is complete with all legal documents signed, funds transferred, and the mortgage registered. Congratulations, you are now officially a homeowner of the property you purchased.
Sunlite Mortgage: Your Trusted Mortgage Partner
At Sunlite Mortgage, we understand that the mortgage closing process can be both exciting and overwhelming. We are here to make the process as smooth as possible with reliable mortgage services and expert guidance every step of the way.
Your Journey to Homeownership Starts Here
Embark on your homeownership journey with Sunlite Mortgage. Our experienced mortgage agents are committed to providing you with the best mortgage solutions and a seamless closing process.
Unlock the doors to your dream home with Sunlite Mortgage today!