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Mortgage Experience

Mortgage Experience

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6 Hwy 20 E, Pelham, Ontario, L0S 1E0, Canada
(855) 684-3397 www.mortgageexperience.ca
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Mar 7, 2017
I was very upset with my experience with Mortgage Experience back in 2015. I am in my early twenties and was looking to purchase my first home on my own without needing anyone to cosign. I was referred to Jodie by one of the real estate agents of a house I was interested in. Jodie pre-approved me for a mortgage and I began shopping based on that pre-approval. I completely understand that pre-approvals are not a guaranteed thing however I placed an offer on a house. The offer was made conditional upon financing. I then got all my paperwork together for Jodie and went to her office to sign all the necessary papers. I had my mom with me and my mom SPECIFICALLY asked if this meant I was good to go, that I wouldn't need anyone to cosign and was approved for the mortgage 100%? Jodie said that yes, I was good to go. I then had a home inspection done the following day and solidified my house offer because my conditions were met. Jodie then called me to inform me that I hadn't been approved for the mortgage and would need to either present more income or have someone cosign. I was furious. I am lucky enough to have a parent that was able to sign for me but A) that is NOT what I wanted, I was attempting to be an independent adult and not need my mothers signature and B) had I not been so fortunate to have someone in my life with the necessary credit score to sign, I would have then been locked into a deal that I now don't have financing for. My financial adviser at the institute that my mortgage is actually through was appalled that Jodie had said I was approved after only receiving my paperwork and not actually running it through. Long story short, go directly to the bank. You're better off for it.

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