Home Buyers Guide

Mortgage Application and Approval

Now that you have bought your home submit a live mortgage application to the lender that will offer you the best mortgage rate and terms. For compliance purposes, the lender will require documents from the broker to retain in their file.

Step 1: Documents Required for Application

1. Personal Identification:
To verify your identity, two valid government-issued photo IDs, such as a driver’s license or passport.

2. Financial Documentation:
Proof of income: Income verification, depending on your employment status, could include an income verification letter, recent pay stubs, and tax returns for self-employed individuals.
Bank statements: Provide statements from your bank accounts to verify your savings for down payments and assets.

3. Employment Verification:
Employment letter: A letter from your employer confirming your job position, income, and length of employment.

4. Credit History:
Credit report: Your credit history will be assessed to determine your creditworthiness.

5. Property Information (for purchase):
Purchase agreement: The signed agreement between you and the seller outlining the terms of the property purchase.

Step 2: The Approval Process

1. Application Submission: Once you’ve gathered all the necessary documents, your Sunlite Mortgage mortgage agent will help you finish the mortgage application and submit it for you.

2. Document Review and Verification: Our dedicated team at Sunlite Mortgage will carefully review and verify the information provided in your application and supporting documents.

3. Credit Check: A thorough credit check will be conducted to assess your credit history, debt-to-income ratio, and credit score.

4. Appraisal and Property Assessment: For property purchases, an appraisal and property assessment will be carried out to determine the value of the property.

5. Mortgage Underwriting: Our expert underwriters will assess your application and supporting documents to ensure all requirements are met.

Step 3: The Journey Beyond Approval

1. Approval Notification: Upon approval, you will receive an official approval notification from Sunlite Mortgage outlining the terms and conditions of your mortgage.

2. Closing Process: Your mortgage agent will guide you through the closing process, which includes signing the final paperwork and transferring ownership of the property.

Sunlite Mortgage: Your Trusted Mortgage Partner
At Sunlite Mortgage, we strive to make the mortgage process seamless and stress-free. We ensure you have access to reliable mortgage services and expert guidance.

Begin Your Homeownership Journey Today

You can make sure to embark on your homeownership journey with Sunlite Mortgage. Our experienced mortgage agents are eager to assist you in gathering the necessary documents, securing approval, and beyond.

Unlock the doors to your dream home with Sunlite Mortgage today!