1. Pre-approval

This part of the process is optional. However, it will help you find a house that meets your “list of requirements” and stays within your budget. We highly recommend you find out the maximum amount you can spend on a home before you go out looking. We know how easy it is to become attached to a property that financially just doesn’t make sense right now.

You can get an estimate on your own using our Affordability Calculator, or you can call one of our agents at 416.766.9000 and they will be happy to walk you through it.

After you have a figure in mind, find a realtor and go house hunting!

Note: You will still need to get approved even if you have been pre-approved. The pre-approval process is to give you a better idea of what you can afford. The approval process is mandatory for qualifying for a mortgage.

2. Approval

Involve us in your shopping. If you haven’t gotten pre-approved, no worries, you can start the process here. When you find a home that you like send us the listing. We can quickly evaluate what financing options are available to you and let you know any pitfalls that may be present. Our team buys and sells real estate too. Having another set of eyes can be helpful.

Once you have found your home, your realtor will put in an offer of purchase. This is where the approval process takes off!

You or your real estate agent will need to send us a copy of your agreement of purchase and sale after your offer to purchase has been accepted. The best offers are the ones with fewer conditions. Just think about it, if you were selling your home, you would probably prefer the buyers who had all their ducks in a row. By showing us the house you want to buy before you put your offer in we can get you an approval in advance and you can avoid making an offer conditional on financing!

To begin your application we will need the following information:

  • Credit score
  • Income
  • Mortgage Details (amount & rate)
  • Any other important details


Then one of our mortgage agents will send you a document request form. This form will outline all the necessary documentation in order to complete your application.

After you have sent all the necessary paperwork and chosen what mortgage product you would like, we will send you the mortgage approval to sign. We will also follow up with a phone call to make sure everything is to your satisfaction.

Next, your lawyer will get all the documents and will schedule a time for you to come in to sign them. On the day of closing, the lender will send the funds to your lawyer who will register a charge on the property. Then they will hand over the keys, and you’ll start moving into your new home!

Check out this “vintage” MorCan Direct video from our archives explaining Your Mortgage in 5 Steps.