So You’ve Hit Submit on That Mortgage Application…Now What?
You’ve taken the first smart step — you submitted your mortgage application. Whether you’re getting your ducks in a row before house hunting, or planning ahead for a future move, this is where the real strategy starts.
At Spire Mortgage, we often hear, “I’ve submitted my application — now what happens?” So we’re breaking it down. From that first click to the moment you get the keys, here’s exactly what happens — and how we guide Alberta buyers through every step.
Renee Huse, founder of Spire Mortgage Team in Alberta, shares what to expect and how to move forward with confidence.
What We’ll Cover
- What Happens After You Submit Your Mortgage Application
- What You Can Do to Keep the Process Moving
- How Long Does It Really Take?
- What If You’re Not Quite Ready Yet?
- Case Study: From Online App to Keys in Cochrane
- Glossary: Terms You’ll Hear Along the Way
- FAQs: Your Biggest Mortgage Questions, Answered
What Happens After You Submit Your Mortgage Application
Once you click submit on our online mortgage application, here’s what happens next:
- Credit Check & Income Review: We pull your credit bureau and begin assessing your income, employment, and overall profile.
- Document Collection & Pre-Approval: You’ll upload key documents like pay stubs, T4s, and bank statements. We review everything and issue a formal mortgage pre-approval.
- You Go House Shopping: This is where the fun begins. Armed with your pre-approval, you and your realtor start searching for that perfect Alberta home.
- Offer Accepted? Send Us the Docs: Once you’ve made an offer and it’s accepted, you send us the Offer to Purchase and the MLS listing for the property.
- We Get to Work on Underwriting: We send your full file directly to the lender. Then we hustle behind the scenes to meet every lender condition and ensure they're fully comfortable funding your mortgage.
- You Review & Approve the Mortgage Details: Once the lender sends back your official mortgage approval, you get to review all the terms and conditions. Happy with the details? Time to waive that financing condition.
- The Legal Side Kicks In: The lender sends your mortgage instructions to your lawyer. Your realtor sends the conveyancing package. Your lawyer will contact you for an appointment.
- Sign, Insure, and Wait for Keys: Bring your home insurance binder letter, sign the mortgage paperwork, and wait for the final moment — closing day, when you get your keys!
What You Can Do to Keep the Process Moving
Here’s what you can do to help us help you:
- Stay reachable – Watch for emails or calls. Some conditions are time-sensitive.
- Upload docs quickly – T4s, pay stubs, bank statements — we’ll guide you through exactly what’s needed.
- Avoid new credit – Don’t finance a car or apply for a new card until we’ve closed your mortgage.
- Don’t move your money around – Lenders like to see consistency and traceability.
Think of it like this: you’re halfway through the race. This is the sprint to the finish line — and we’ll run it with you.
We’ve had clients go from application to keys in under three weeks — but 45–60 days is the sweet spot for most Albertans.
What If You’re Not Quite Ready Yet?
Maybe you're just window shopping. Or maybe you’re worried your credit isn’t quite where it should be. That’s completely fine — and actually really common.
At Spire Mortgage, we work with future buyers months (even a year!) before they’re ready to pull the trigger. Here’s what we’ll help you figure out:
- What your current borrowing power looks like
- What you might need to work on (credit, debt, income structure)
- How much down payment you’ll need — and how to show it
- What mortgage options or programs are available to you
We’ll build a file, make a plan, and check in when the timing’s right. Starting early is the smartest move you can make.
How Long Does It Really Take to Get a Mortgage in Alberta?
Every client asks this — and the answer depends on how prepared you are and how quickly we can move. Here’s a typical timeline:
We’ve had clients go from application to keys in under three weeks — but 45–60 days is the sweet spot for most Albertans.
Case Study: From Submit to Sold in Cochrane
Client: Jason & Erica from Cochrane
Goal: Buy their first home with 10% down
Timeline: 24 days from application to possession
Property:
Purchase Price: $520,000
Down Payment: $52,000
Mortgage: $468,000 (insured)
Rate: 3.99% 5‑year fixed
Amortization: 25 years
Monthly Payment: ~$2,448
Their Journey:
Jason & Erica hit submit on a Sunday. By Monday, we had pulled credit and started collecting documents. Their income included salary + shift differential, so we worked directly with their HR department to confirm.
Once they found the perfect home in Cochrane, we had an accepted offer and MLS sheet within 48 hours. We submitted to a lender that moves fast on insured deals, and received the mortgage commitment in under 36 hours. They reviewed and waived conditions by day 10.
Lawyer instructions were sent shortly after. They signed on day 20 and had keys in hand by day 24.
Glossary: Mortgage Lingo You’ll Hear Next
- Pre‑Approval – A lender’s estimate of how much you can borrow, based on income, credit, and documents.
- Offer to Purchase – A legally binding agreement outlining the terms of the home sale.
- Underwriting – The process where lenders evaluate your file to approve the mortgage.
- Conditions of Financing – The clauses you keep in your offer until the mortgage is officially approved.
- Mortgage Instructions – The formal documents a lender sends to your lawyer to begin closing.
- Conveyancing Package – The real estate documents your realtor sends to your lawyer to finalize the transaction.
- Binder Letter – Proof that you have home/fire insurance in place before possession.
- Closing Day – The day the property legally becomes yours and you get your keys.
- Credit Bureau – A report showing your credit score, history, and debt levels.
- Possession Date – The day you physically take ownership and move in.
FAQs: This section will include FAQ schema on final export.
How long does the mortgage process take in Alberta?
It can be done in as little as three weeks. Most clients choose 45–60 days for a smoother timeline.
When should I get pre-approved?
Before you start house hunting! Pre-approval gives you clarity and negotiating power.
What if my income is complicated?
We work with salaried, commissioned, and self-employed clients — and help build strong lender packages for all.
Do I need a lawyer?
Yes. Alberta law requires a real estate lawyer to handle the closing and register the mortgage.
When do I arrange home insurance?
Before your signing appointment. You’ll need to show proof of coverage to the lawyer.
What if the lender wants more documents?
We’ll let you know right away and help you get everything submitted fast to avoid delays.
Call-to-Action
Buying a home in Alberta? Hit submit on your mortgage application — and we’ll take it from there. From Cochrane to Calgary, Edmonton to Airdrie, we guide you through every step with clarity and confidence.
Give us a call or fill out an application at this link: https://spiremortgage.ca/apply-now and our team will get in touch with you to start building a plan that suits you.
