Positive Mortgage is a mortgage lender, not a mortgage broker. We make all credit decisions directly, eliminating delays and complication. Our loan officers work directly with you or with your financial advisor, attorney or other designated representative to complete the process, from start to finish.

Our process can be outlined in three steps:

Application Process The Mortgage Specialist will conduct a preliminary fact-finding discussion with you that will consider many factors, such as your product preferences, interest rate outlook, timing (mortgage tenure), cash-flow and tax implications. These factors are used to determine the most appropriate product and product options that best suit your needs We will then run your personal credit report. This report, in conjunction with the other factors in your loan request, will determine what your documentation requirements are (i.e., Income, asset and employment verification).		Application Process You will complete the application and gather all necessary supporting documentation. Supporting documentation ranges from “No Documentation” (No disclosure of income, assets or employment) to “Full Documentation” (full disclosure and evidence of income, assets and employment)
Decision Process – (5-days) Once your application is received by us with the requested supporting credit documentation (as required in the fact finding discussion) we will order an appraisal and flood certification. The appraisal company will contact the appropriate party to inspect the property. Within 72 hours we will send to you a Truth-in-Lending Statement (TIL) which outlines the total credit costs of the mortgage, plus projected monthly payments and a Good Faith Estimate (GFE) which itemizes the estimates costs to close. We will review the application along with the required supporting documentation and render a credit decision, a commitment letter, which is typically subject to the appraisal report, title requirement and evidence of insurance.		Decision Process – (5-days) You and/or your attorney/closing agent will order such things as a title report, pay-off letters, survey and home owners insurance. When you receive our Truth-in-Lending Disclosure Statement, and Good Faith Estimate. Review, sign and return.
Closing Process Once we receive the appraisal report (from 7-10 days from the time of order) and any other contingent information in your commitment letter, we will work to clear all commitment conditions so that your loan will be ready to close on time.		Closing Process Provide to us the preliminary Title Report (typically takes 2-weeks from time of order), evidence of home owners insurance and any other required items in our commitment letter. Your attorney/closing agent will request to schedule a closing with our counsel.