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Two lenders at the same rate can end up thousands of dollars apart if you break the term. The conditions to read before you sign in Capitale-Nationale.
The posted rate is the easy part. What costs you later hides in the conditions: how the penalty is calculated, prepayment privileges, portability. Two lenders at the same rate can end up thousands of dollars apart if you break the term.
The offers you are comparing, in writing, with all the conditions and not only the rate. Ask how the penalty is calculated and what prepayment allows. If you might move during the term, check portability before you sign, not after.
The document must be current, readable and consistent with the rest of the file. A statement with a missing page, or a name spelled differently than on your notice of assessment, sends the file back for clarification.
Everything has to agree across documents: names, dates, balances, where the money came from. The number one cause of a stalled verification? A deposit nobody can explain.
An odd amount, a missing page, two records that disagree: the lender will ask. Explain them up front. A gift, a bonus or a transfer between your own accounts is perfectly fine once documented.
Three calendars have to fit together: the lender’s, the insurer’s and the notary’s. It’s nearly always the last one that delivers the confirmation once the condition has run out.
To prepare
Yes. It all runs by phone, email or video call, and documents go through online. We can meet in person, but most files get settled without anyone having to travel.
Not if the penalty for breaking the mortgage is worked out differently. Two lenders at the same rate can end up thousands of dollars apart if you break the term. Look at how the penalty is calculated and what prepayment allows before you sign.
Pick the situation closest to yours.
Contact
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.