What to Expect in Your Mortgage Lender’s Welcome Package
Within a few weeks after your mortgage closes (funds), you should receive communication from your mortgage lender. It often comes in the mail, but you may also receive a phone call and possible email communication as well.
In your welcome package you can expect information on:
✅ Confirmation of your mortgage details
– Loan amount, interest rate, term, amortization, and payment schedule
✅ First payment date
– When it’s due and how payments will be withdrawn
✅ Property tax details
– Whether your lender will collect and pay taxes on your behalf
✅ Contact information
– How to reach customer service for questions or changes
✅ Online access setup
– Instructions to create an account and manage your mortgage online.
Tip:
Review the package carefully to make sure all details are correct and match what you expected. If anything looks off, contact your lender right away and be sure to reach out to your broker as well. Often times your lawyer can make changes with some details at your signing appointment at your lawyers office and your broker is not provided with those changes.
Mortgage Sisters West are licensed mortgage brokers who serve all of Alberta, with a focus on our local Edmonton, Sherwood Park, St. Albert, Fort Saskatchewan, Spruce Grove, Stony Plain, Beaumont, Leduc and surrounding areas!
We are mortgage brokers franchised with our National Brokerage Mortgage Architects and can broker your mortgage in other provinces as well. We would love to work with you!
