Kelowna Homebuyers

Kelowna homebuyers! Partner with us throughout your home buying journey and see the difference in working with a Mortgage Specialist who truly cares about what’s best for the client.

Working alongside one of the largest & most recognized lenders in the business allows me to provide some of the lowest mortgage rates and industry-leading incentive programs on the market. Coupled with a streamlined application & underwriting process enables us to get your application submitted, approved, and closed in as little as 3-4 weeks.

I provide mortgage and lending solutions through all of British Columbia, however, our primary service areas run through the heart of BC in the Okanagan Valley: Including Osoyoos, Penticton, Summerland, Peachland, West Kelowna, Kelowna, Lake Country (Winfield), Vernon, Armstrong, and beyond.

For information about International homebuying or non-Canadian resident mortgages and loans please send me your info or give me a call @ (250) 300-4845 to discuss your lending options.

Before making an offer on a home, Kelowna homebuyers should have a clear understanding of the mortgage and financing process. Below we’ve assembled just that, a step-by-step walkthrough of what you can come to expect throughout the lending process.

Step 1: Qualify your Broker & Lender

There are 2 primary components of every mortgage process, 1. The Broker/Specialist 2. The Lender. It’s imperative that you’re working with a solid team that has your best interest at heart; so the first order of business is to qualify a Mortgage Specialist and their Lender(s).

  1. Find a great mortgage broker.
  2. Ensure they’re partnered with reputable, industry-leading lenders. Ask your broker who their lenders are. Invest some due diligence in ensuring their lenders are someone you’re going to want to do business with for a very long time. You can Qualify their lenders through websites like the Better Business Bureau (BBB) and Trust pilot or by speaking with industry professionals, family & friends.

Step 2: Get Pre-Approved

Why get pre-approved for a mortgage? It is necessary to get pre-approved because you will need to produce a pre-approval letter with your offer. The pre-approval process should be relatively quick from 1 to 2 days.

Your advisor & lender are qualified, evaluated & ready to go, it’s application time. Each brokerage will have its own particular onboarding & application processes, however, for the most part, they’re all relatively similar as outlined below.

The application process

  1. Gather the required documentation needed to apply for the loan.
  2. Contact Us to arrange a pickup time or secure digital upload.

Within the next couple of days, you can expect to receive your pre-approval letter containing the amount you have been pre-approved for as well as several other details relative to the home buying process such as your credit score & other pertinent information.

Step 3: You’re offer is accepted!

Once your offer is accepted it’s off to the next set of hurdles in the home buying process, subjects & disclosures

  1. Home inspection
  2. Home appraisal
  3. Septic inspection
  4. Land surveyors, etc.
Once you’ve reviewed all the details ∧ your mortgage specialist has the home inspection ∧ appraisal documents they can proceed to have your loan underwritten (the process of verifying your income, assets, debt ∧ property details in order to finalize your loan).

Step 4: Conditional Loan Approval

With the underwriting complete, and the final subjects ∧ disclosures attended to, your advisor should receive your conditional approval typically within 3-6 business days.

These conditional approvals typically come with another set of terms and conditions that will need to be attended to prior to the underwriter confirming and closing the deal. Thus once we receive the conditional approval I will be in touch and we will take time to clear the remaining terms or conditions as well as review the exact terms and conditions of your loan.

The amount you’ve been approved for, the exact terms and type of loan, any specific early payout options or penalties therein, and renewal dates depending on the type of mortgage you ended up choosing.

Step 5: Finalizing and Closing

With the selling party's subjects removed and the conditional loan approvals conditions met, your mortgage advisor will have sent the necessary closing documentation to your lawyer or notary. At this point, you will be hearing from me either to schedule an appointment to button up the “Transfer of title” or complete the signing of the final mortgage documents.

 

GET IN TOUCH

  •   I will come to you!
  •   We can meet at one of our several locations?
  •   Or perhaps a local coffee shop or business?
  •   (250) 300-4845 (Call or Text)

MY MESSAGE

I provide forward-looking mortgage solutions based on my client's short- & long-term financial goals.

My passion is in establishing high-quality, long-lasting personal relationships with my clients. Ensuring clear & transparent lines of communication that will allow us to utilize all the financial tools, mechanisms & opportunities the housing & mortgage sector has to offer.

~ Bonnie Thorlakson
Commitment, Achievement, Compassion, Caring and Passionate.

 
1999 - 2022© Bonnie Thorlakson