Stop Before You Do Anything
Avoid major changes
Do not quit your job, change employment, apply for credit, or take on new debt until your mortgage has funded. The lender may do a final employment or credit check.
Review & Prep
Confirm final mortgage details
Double-check that the mortgage amount, property address, interest rate, and closing date match your expectations. Let us know before legal documents are sent if anything needs correcting.
Submit your Mortgage Protection Form
Whether you accept or waive coverage, your signed Mortgage Protection Plan form is required to close your file. This helps protect you and your loved ones long-term.
Legal Signing & Documentation
Prepare for your signing appointment
- New Purchase: Your documents will be sent to your lawyer. Signing usually happens 7–10 business days before your possession date.
- Renewal/Refinance: Your documents may be handled by a title company like FCT or FNF Canada. They’ll contact you to book an in-home appointment once your current lender sends a payout statement.
Have your ID ready
Bring two pieces of valid ID to your appointment. Your ID must match the name on the mortgage approval and title.
Understand the signing agent’s role
They’re there to witness your signature — not to answer questions. Please contact us beforehand if anything is unclear.
Have certified funds ready (if applicable)
You may be asked to provide a certified cheque or bank draft for any downpayment or closing costs, penalties, or discharge fees. These may be reimbursed or rolled into your mortgage — we’ll confirm.
Send us your receipts
Hold onto any receipts for closing costs so we can help verify if you’re eligible for reimbursement or confirm your new mortgage amount covers all fees.
Insurance Requirements
Update your homeowner’s insurance
Your lender requires proof of active property insurance before funding. Make sure:
- Coverage is for full replacement value
- Your new lender is listed as loss payee
- It includes the Insurance Bureau of Canada’s mortgage clause
Property Taxes
Check your payment setup
Refer to your mortgage commitment to confirm if your property taxes are:
- Lender-paid: taxes are collected with your mortgage payment and paid directly by your lender.
- Borrower-paid: you’re responsible for paying taxes directly to your city. You can often set up monthly payments with your municipality:
Utilities (for new purchases only)
Set up your utilities
If you’re purchasing a home, contact your utility providers to activate gas, electricity, water, internet, etc. for your possession date.
What Happens on Closing Day?
Here’s how it works:
- Renewals/Refinances: Your new lender pays out your existing mortgage, and the title is updated to reflect the change in lienholder.
- Purchases: Your lender transfers funds to your lawyer, who then sends payment (and your down payment) to the seller and registers the home in your name. You receive possession — typically around noon.
Need Help Along the Way?
If anything’s unclear or you just want reassurance, reach out. Our team is here to support you — no jargon, no surprises, just straight answers.
Kids Supported Since 2024
You Get A Home.
They Get To Play.
We donate to KidSport with every mortgage we fund.
Whether you’re buying your first home or restructuring for the future, we bring clarity, care, and strategy to every step. Believe in Better®.
