When choosing a mortgage broker here are some questions we often see:
When applying with your spouse or anyone else on the loan, your lender will need documentation for their income as well in order to properly assess your financial situation.
Self-employed clients will need to provide 2 Years Tax Returns, 2 Years NOA, as well as their business registration.
Having your financial documents prepared before applying is important so you can close your mortgage quickly. The most common documents mortgage lenders ask for are:
When applying to refinance your mortgage you will receive an estimate of all fees and costs associated with it.
Refinancing your mortgage takes about 30 days to complete, there are a few variables to the process that can take extra time however. Third parties, such as appraisers, and solicitors are involved in the process to get your mortgage closed; this can cause potential delays.
The process can also be shorter or longer depending on the complexity of your financial situation. While in the process of refinancing your mortgage it is advisable to let your Sunlite Mortgage professional know of any changes in employment or income and to avoid opening any new lines of credit.
For up to 120 days before your refinance, your Sunlite Mortgage agent could get you a mortgage pre approval and lock in your mortgage rate.Your pre approval will specify the term, interest rate and the mortgage amount. Should rates go up, your tate is protected and if rates fall the lower rate could be available.
Use this calculator to generate an amortization schedule for your current mortgage. Quickly see how much interest you will pay, and your principal balances. You can even determine the impact of any principal prepayments! Press the report button for a full amortization schedule, either by year or by month.