Region served
Until the estate is settled, the lender does not know who can sell or who has to sign. What the file needs to finance an inherited property in Saguenay-Lac-Saint-Jean.
A lender finances a title, not just a property. While an undivided ownership, an easement or an unsettled estate is still there, it wants to know who can sell, who has to sign and what encumbers the title. Faced with undivided co-ownership, many lenders just step back, and you have to go to the ones that finance it.
The location certificate, the deed and, depending on the case, the co-ownership agreement, the judgment or separation agreement, or the estate documents. Your notary is often better placed than you to see what the title is missing.
Your offer is only as good as the appraisal. Where few comparable sales exist in Saguenay-Lac-Saint-Jean, the appraiser can come in under the price you agreed to, and you cover the difference in cash. It does not get added to the mortgage.
The lender wants to see enough to work out your monthly budget: proof of income, the source of the down payment, your debts and what is left after the bills. Have them ready before the first call about a Saguenay-Lac-Saint-Jean file.
Rate is the easy comparison. On a purchase, two offers differ mostly in the penalty to break the term, in how much you can prepay each year and in whether the mortgage moves with you to the next home.
A complete file the first time avoids the back-and-forth that adds weeks. It is almost never the analysis that drags on a Saguenay-Lac-Saint-Jean file. Somebody is waiting on an employer, a bank or an appraiser.
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.
Yes, but few lenders will touch it. Several step back from undivided ownership, and those that finance it want the co-ownership agreement and every co-owner’s signature.
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.