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12 Aug

The 90-Day Pre-Completion Mortgage Checklist

Mortgage Tips

Posted by: Gavin Toor

The 90-Day Pre-Completion Mortgage Checklist

How to Secure Your Mortgage Before Your Presale Condo or Townhouse Completes in Surrey, Langley, or Burnaby

What Is a Pre-Completion Mortgage and Why It Matters

If you purchased a presale condo or townhouse in Surrey, Langley, or Burnaby 1–3 years ago, your completion date might be approaching soon. This means you’ll need to secure a mortgage so you can take possession of your home.

A pre-completion mortgage is the financing you arrange in the months before your presale unit is ready. Many buyers mistakenly believe that because they were approved when they signed the contract, they’re automatically approved at completion. Unfortunately, lender rules, interest rates, and even your personal finances may have changed — and this can cause last-minute stress.

Starting your mortgage process 90 days before completion gives you:

  • More lender options

  • Time to get the best rate

  • A buffer in case your situation has changed

  • Peace of mind leading up to possession day

The 90-Day Pre-Completion Mortgage Timeline

Here’s exactly what to do in the three months before your presale completion to avoid costly delays or surprises.

90 Days Before Completion — Get Mortgage Ready

  • Contact your mortgage broker (I work with buyers across Surrey, Langley, Burnaby, and the Lower Mainland) to start your application and review your options.

  • Gather updated income documents — pay stubs, employment letter, and T4 slips for employees; tax returns and financial statements for self-employed buyers.

  • Confirm your down payment source — make sure funds are liquid and ready for transfer by completion day.

  • Check your credit score — avoid taking on new loans, credit cards, or financing big purchases like cars or furniture.

60 Days Before Completion — Secure Your Mortgage Approval

  • Review your rate options — consider locking in if rates are expected to rise before your completion date.

  • If self-employed, provide up-to-date year-to-date income statements.

  • Submit updated builder documents to your broker — including strata details, amendments, or final floor plans.

  • Arrange an appraisal if your lender requires it.

30 Days Before Completion — Finalize the Details

  • Sign your mortgage commitment with your lender.

  • Confirm closing costs — property transfer tax, legal fees, GST (if applicable), and adjustments.

  • Book your lawyer or notary appointment to sign the final documents.

  • Follow your broker’s final instructions to ensure funds are ready for transfer.

Common Mistakes to Avoid Before Presale Completion

These are the most common issues I see with buyers — and they can be deal breakers if not avoided:

  • Changing jobs or reducing work hours before completion.

  • Financing large purchases before mortgage funding.

  • Ignoring lender requests or sending documents late.

  • Letting your pre-approval expire without checking in with your broker.

Pro Tip: Rate Holds Aren’t Permanent

One of the biggest misconceptions about pre-completion mortgages is that once you lock in a rate, you’re stuck with it — even if rates drop. That’s not true. If market rates improve before completion, I can revisit your file and try to secure a better deal.

Why Work With a Mortgage Broker for Your Pre-Completion Mortgage

Not all lenders treat presale completions the same way. Some may require updated income verification closer to completion, while others have different timelines for appraisals or rate holds.

As a mortgage broker with strong relationships across major banks, credit unions, and alternative lenders, I can:

  • Find the right lender for your timeline and situation

  • Get a second or third approval in place if needed

  • Negotiate competitive rates

  • Help you navigate last-minute changes from the builder or lender

Serving Surrey, Langley, Burnaby & Beyond

I work with clients across the Lower Mainland, but I focus on markets like Surrey City Centre, Langley Willoughby, and Burnaby Metrotown/Brentwood, where many new developments are completing in 2025–2026.

Whether your completion is in 90 days or 6 months, starting early can save you money, stress, and potential financing issues.

Get Your Free 90-Day Pre-Completion Mortgage Plan

If your presale condo or townhouse is completing soon, don’t wait until the last minute. Let’s secure your financing now so you can enjoy your move-in day without worrying about your mortgage approval.

📞 Gavin Toor — Mortgage Broker, Volterra Capital Corp.
📱 604-835-4999 | ✉️ gavintoormortgages@gmail.com
🌐 gavintoormortgages.com