The signing at the notary, the day you take occupancy, and the gap in between. Payments start at disbursement, which may overlap with your current rent or mortgage.
Every lender has its own rules
Income they accept, properties they finance, how they read credit: all of it varies. So one decline says little about the next answer, and it matters who you submit to first.
Build the file before sending
Send a complete file once and you avoid weeks of back-and-forth. Income proof, down payment records and property documents should be in hand before you submit. That’s how a short deadline stays possible.
Documents to gather
What the lender will ask for.
File goal
Income and supporting papers
Debts, credit
Property or security
Target dates
Lender options
Frequently asked
When do my mortgage payments start?+
At disbursement with the notary, not at move-in. If occupancy comes a month or two later, budget for paying both homes during that gap. Lots of buyers forget that cost completely.
Which documents should I gather?+
Your last two notices of assessment, recent pay stubs, an employment letter, three months of bank statements and proof of your down payment. Gathered before the offer, they make a five-day financing condition workable. Gathered after, they add weeks.
Current rates
Today’s rates, with the fine print.
These rates are indicative. Yours depends on your file, the type of mortgage (insured or not) and the lender. And look at the penalty too, it matters as much as the number.
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.
