How long does the approval process take?

A mortage approval should only take a few days, but its probably best to allow up to two weeks. During this process, the lender will do a credit check and spot check theother information you have provided. In addition, an appraisal of the value of your home may be obtained.

If required, a request for mortgage loan insurance is submitted to CMHC or a private insurer. The lender then approves or rejects your mortgage loan.