Financing A Home


Barry Gellner
Steve Kirk
Mike Kirk
RE/MAX Kelowna
Suite 100
1553 Harvey Ave.
Kelowna, BC
V1Y 6G1
Ph. 250-717-5000

Financing Your New Home

There are many common methods of financing the purchase of a property, including:

  • Cash
  • Cash to existing mortgage
  • Cash to a new conventional mortgage
  • Cash to a Vendor Take Back mortgage
  • Cash to a combination of a conventional mortgage and VTB (vendor or seller take back) mortgage
  • Cash to a Hi-Ratio mortgage


Whenever a mortgage is involved in the Financing Process, several steps are required:

  • Completion of the loan application by the lender (an application fee may apply)
  • The lender processes and reviews the application based on information provided by the borrower
  • The lending institution requires:
  1. An appraisal of the home
  2. A Credit Report on the borrower
  3. Verification of net worth (assets & liabilities) of the borrower
  4. Verification of down payment
  5. Verification of Income of the borrower
  • Once the loan is approved, a Mortgage Commitment is issued for the borrowers' signature
  • On closing, the lender disburses funds to the solicitors for disbursement
  • The loan documents will be registered on title by the solicitor

| Financing | Determine Your Affordable Price Range | Buyer Hidden Costs |
| Step-by-Step Buying Process | Introduction To Mortgages | Tips for buyers | Tips for Sellers |
| Choosing A Realtor | Current Properties For Sale |


Local 250-717-5000
TOLL FREE Barry at 1-800-663-5770