The Client HUB

Thank you for choosing East Coast Mortgage Brokers - Clark Mortgages. Here you will find resources and useful tools to guide you through the mortgage process. While each mortgage is unique, there are some overlaying similarities. 

If at any point you have questions, please do not hesitate to contact me.

Ian Clark

Client Hub

Mortgage Broker

(709) 770-9194

[email protected]

Client Hub

We're about making the process simple and convenient.

Mortgage Timeline

Unique for each mortgage

Online Application
Online Application

The online application is the starting point where you can input all of your information quickly and easily. Don't worry about providing exact details because the application goes directly to the Broker, who can make changes and updates. Once you submit the form, check your inbox for the next steps.

Documentation
Document Checklist

After submitting your online application, you will receive a tailored checklist of all the required documents needed to secure your mortgage financing. Each lender will qualify using varying documentation, so we ask for the majority of the documents upfront. Submitting these now allows us to look at more lending options and cuts down on paperwork later.

The pre-approval turnaround time depends on how quickly we receive these documents.

Pre-Approval
Purchase Examples

Once we have received and reviewed the documents, we will secure your mortgage pre-approval. A pre-approval establishes your maximum purchase price, helps you budget and protects your interest rate while you house hunt. We will also provide purchasing examples within your budget, showing the actual cost of homeownership.

Whether you are making a purchase immediately or down the road, we will put together the next steps for homeownership.

Purchase Agreement

PSA Example

Together with your Realtor, we will work with you in finding a home within your budget. Once a purchase agreement is accepted, we submit everything to the lender and applicable insurer for review.

Conditional Approval

Checklist Update

The lender issues a Conditional Approval of mortgage financing based on satisfying both the Purchase Agreement and the Mortgage Commitment conditions. Together the Broker, Realtor, and Lawyer will work with you to complete these.

These conditions may include an appraisal, confirmation that your current home sells before closing on the new purchase, to name a few.

Broker Appointment
Google Meeting

Soon after the Conditional Approval, we will review the mortgages terms, conditions, and sign the mortgage commitment.

This may take place well in advance of the Lawyer's appointment/closing.

Lawyer Appointment
Downpayment and Closing

As closing approaches, the lawyer will book an appointment with you to review the final documentation. This is when the lender sends the mortgage funds to the lawyer in preparation to close. This is also when the down payment is due. The lawyer will provide the final amount and payment options, however, we will provide an estimate to avoid any suprises.

Closing
Mortgage Funded

The original closing date is a moving target. Delays may occur with home inspectors, builders, title/deed searches, perhaps issues on the vendor's side, or any other number of moving parts. Upon closing, the lawyer will instruct and you will receive the keys and take occupancy.

Online Application
Online Application

The online application is the starting point where you can input all of your information quickly and easily. Don't worry about providing exact details because the application goes directly to the Broker, who can make changes and updates. Once you submit the form, check your inbox for the next steps.

Documentation
Document Checklist

After submitting your online application, you will receive a tailored checklist of all the required documents needed to secure your mortgage financing. Each lender will qualify using varying documentation, so we ask for the majority of the documents upfront. Submitting these now allows us to look at more lending options and cuts down on paperwork later.

Qualification
Renewal Comparison

Once we have received and reviewed the documents, we will provide you with all of your mortgage options, comparing each lender and their mortgage options. Having chosen the best option, we submit for approval with that lender.

Conditional Approval

Checklist Update

The lender issues a Conditional Approval of mortgage financing based on satisfying the Mortgage Commitment conditions. 

These conditions may include an appraisal of the home, verifying income, paying down some debt, or any other number of conditions.

Broker Appointment
Google Meeting

Soon after the Conditional Approval, we will review the mortgages terms, conditions, and sign the mortgage commitment.

Mortgage Payout
Payout Example

Our partners at FCT and FNF will request the mortgage from the current lender. This comes in a payout statement detailing the exact balance and amortization. Once your current lender issues this statement, they will no longer draw payments for your mortgage.

This length of the process depends on the lender. Allow 10 days.

Signing Appointment

FCT FNF

Once the payout statement is received, an FCT/FNF title officer will make an appointment with you to sign the final documents. The mortgage registration will be updated to reflect the new lender. If property taxes are paid with the mortgage, they will be addressed, and confirmation that your home insurance has been updated to reflect the new lender.

Renewal Funded
Renewal Funded

The date at which the mortgage has funded and the renewal process is complete.

Online Application
Online Application

The online application is the starting point where you can input all of your information quickly and easily. Don't worry about providing exact details because the application goes directly to the Broker, who can make changes and updates. Once you submit the form, check your inbox for the next steps.

Documentation
Document Checklist

After submitting your online application, you will receive a tailored checklist of all the required documents needed to secure your mortgage financing. Each lender will qualify using varying documentation, so we ask for the majority of the documents upfront. Submitting these now allows us to look at more lending options and cuts down on paperwork later.

Qualification
Refinance Example

Once we have received and reviewed the documents, we will provide you with all of your mortgage refinancing options, comparing each lender and their mortgage options. Having chosen the best option, we submit for approval with that lender.

Conditional Approval

Checklist Update

The lender issues a Conditional Approval of mortgage financing based on satisfying the Mortgage Commitment conditions. 

These conditions will include an appraisal of the home, which will verify its equity.

Broker Appointment
Google Meeting

Soon after the Conditional Approval, we will review the mortgages terms, conditions, and sign the mortgage commitment.

Appraisal

Appraisal Report

Once all of the remaining conditions are satisfied, an appraisal will be ordered to verify the value of the home and the basis of the new mortgage.

Lawyers Appointment & Closing

The lawyer will pay out the current mortgage with the funds from the new lender and the new mortgage.

If you are consolidating debts, they will also pay out those debts as required.

If you are taking equity out of your home, the lawyer will direct those funds to you.

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