Getting a mortgage/loan can be a stressful experience if you are unfamiliar with the process. Luckily, we have heard most of the queries!


To help you with your refinance, here are a few frequently asked questions that we get at our office:


1.       I have never obtained a mortgage during the pandemic. Do we need to sign in-person?


During the pandemic, it is common for most lenders to allow for a virtual signing. It is possible to meet us using your smart device. Zoom and DocuSign are popular ways to meet and sign documents.


2.       What is happening with my property taxes? Will these be included in my mortgage?


If you are interested in paying your property taxes through your mortgage, your financial advisor will be able to assist you in choosing the right deal.


3.       Why do I need to sign with a lawyer? This is a purely a financial process.


When you obtain a mortgage, there is a legal side of this process such as reviewing the Land Title and ensuring you are aware of the legal terms of your mortgage product.


4.       Why do you need my void cheque?


Your void cheque or pre-authorized debit agreement allows payments to be withdrawn from this account. The balance will also be deposited into the same account.


5.       My partner is not on the loan, why do they need to attend the meeting?


If you are married, it is important that they attend the meeting to go through the documents. They may not be responsible for the mortgage; however they should be informed of the process. As most partners reside at the home, they may have a stake in the home in certain circumstances. Most lenders will want to know the consenting spouse has been informed fully about the new mortgage product and the mortgage legal terms.


6.       When will I get the funds and when will any credit card payments be made?


At our office, once we receive funds from the new lender, your net funds are deposited over the bank counter or wired within 1 business day of closing. Credit cards are also paid at the bank over the counter. Debts that are required to be paid by courier are done so overnight.


For more questions about your mortgage, contact us at or call us at 905 787 2296.