Buying a property in the Greater Toronto Area is an exciting step—but when it comes to closing, mortgage coordination can quickly become one of the most stressful parts of the process. Whether you’re working with a major bank, a credit union, or a private lender, ensuring all requirements are met is critical to a successful and timely closing.
As real estate lawyers, we work behind the scenes to make sure your mortgage financing is handled properly—from reviewing the terms of the loan to communicating with your lender and registering the mortgage on title.
Let’s walk you through a recent story that shows why legal support matters.
GTA Homebuyer: A Real Story
Sofia, a first-time homebuyer in Mississauga, was thrilled when her offer on a two-bedroom condo was accepted. She secured a mortgage through a major Canadian bank with a fixed interest rate and a 25-year amortization. But as her closing date approached, the bank sent over a revised mortgage commitment with several conditions and a much shorter funding window than expected.
Sofia was overwhelmed and unsure what half the legal terms meant. That’s when she reached out to our office.
We stepped in immediately to review her mortgage instructions, explain the revised terms, and flag a few clauses that required clarification—including one about a lender holdback that could have delayed her access to funds. Our team coordinated directly with the lender and broker to ensure the conditions were satisfied well in advance of closing. We also confirmed that all disbursements and property tax adjustments were calculated accurately to avoid last-minute surprises.
Thanks to this proactive approach, Sofia’s mortgage funds arrived on time, the transaction closed without delays, and she received her keys as scheduled.
Why Mortgage Coordination Matters
Even experienced buyers can find mortgage paperwork confusing. Lender instructions often contain:
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Deadlines for document submission
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Conditions for funding release
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Title insurance requirements
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Details on property tax holdbacks or prepayment penalties
As your legal representative, we ensure all documents are properly reviewed, signed, and submitted. We communicate with lenders and brokers, flag any legal concerns, and confirm that the mortgage is registered correctly on title. This reduces stress and protects you from costly errors or delays on closing day.
Institutional vs. Private Lenders
Private financing can move faster but often comes with stricter terms, higher interest, and short-term repayment structures. Whether you’re using institutional or private financing, we’ll ensure that you fully understand your obligations and that your deal closes smoothly.
Let Us Handle the Legal Side of Financing
If you’re buying a home, refinancing, or securing private lending, let our office coordinate the legal side of your mortgage. We’ll work closely with your lender to ensure everything is accurate, compliant, and ready for closing.