Timing becomes the criterion. A lender that gives the best answer in three weeks is useless if your financing condition expires Friday. What slows a file is the appraisal, the notary or a missing document. The analysis, almost never.
Documents before comparison
The complete file on the first call: notices of assessment, proof of income, down payment, signed offer to purchase and the notary’s contact details. Every missing piece costs a day or two, and those days are what break tight deadlines.
Property and price
Your offer is only as good as the recent sales behind it. When there aren’t many comparables in Montréal, the appraisal can come in under your price. You cover that gap in cash. The mortgage won’t.
Income and down payment in Montréal
Your income proof, the source of your down payment, your debts and the monthly budget you can carry: the file in Montréal starts there.
Conditions compared
Everybody compares rates because it’s easy. On a purchase, the real differences sit elsewhere: the penalty if you break the term, how much you can prepay each year, and whether the mortgage can follow you to your next home.
Documents before submission
Get the file complete the first time and you save weeks. In Montréal like everywhere else, it’s almost never the analysis that slows things down. It’s the employer who doesn’t call back, the bank that sits on it, the appraiser who’s running late.
To prepare
What to gather.
Borrower profile
Income records
Credit history
Available funds
Property or project
Lender eligibility
Frequently asked
Can the file be reviewed remotely?+
Yes. Phone, email or video call, with documents sent online. We can meet in person if you’d rather, but most files get done without anyone driving anywhere.
How long does financing take?+
A 24 to 48 hour answer is common when the file is complete. The rest gets stretched by the appraisal, the notary and missing documents. Set your financing condition with that in mind.
Buying, renewing, refinancing, or something a bit out of the ordinary: tell us where you’re at, even if it’s still fuzzy. Mathieu gets back to you with next steps and the documents to pull together.
