Once you have found the mortgage you want, you will begin the process of applying to the lender for loan approval. The application itself, whether or not you are approved, will cost you anywhere from $150 to $400. This makes your shopping efforts all the more important, since your budget may prevent you from making numerous applications.
The application form itself is long and tedious and requires several attachments and documents. It is a standard form developed by an agency of the federal government. No matter where you apply, you will get the same form. Don't be put off: Your broker or lender representative will assist you in the process.
Application Checklist
To speed up the process and to boost your chances for a loan approval, it is best to be prepared when you go to apply with your lender. Things to bring along:
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