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| Summary of mortgage papers |
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Documents
- Mortgage Approval
- Commitment Documents
- Disclosure Statements
The Mortgage Approval or Commitment is prepared by your lender and contains the terms and conditions under which they may advance mortgage funds to you.
Prior to the advancement of funds, some lenders are required to disclose to you:
- What deductions they will make before advancing the balance of the funds to your lawyer/notary.
- What your prepayment privileges are.
- How much will be owed on your mortgage renewal time comes.
Some lenders will require you to sign these documents at their office and others will require you to sign these documents at the lawer/notary’s office.
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