What to Expect in the Closing Process: A Step-by-Step Guide

Shawn Johnson • June 24, 2026

You’ve found the right home, your offer’s been accepted, and your financing is approved—congratulations! But before you can pick up the keys and celebrate, there’s one more important stage: the closing process.


Closing is the final step in your homebuying journey, where all the paperwork, legal details, and financial transactions come together. It can feel overwhelming if you don’t know what to expect, but with the right preparation, closing can be smooth and stress-free.


Here’s a step-by-step guide to help you understand the process.


Step 1: Hire a Lawyer or Notary

A real estate lawyer (or notary, depending on your province) handles the legal side of closing. They will:

  • Review the purchase agreement and mortgage documents
  • Conduct a title search to confirm the seller has the legal right to sell the property
  • Ensure the mortgage lender is properly registered on the title
  • Handle the transfer of funds between you, the lender, and the seller


Your lawyer or notary will be your main point of contact during closing, so choose one you trust and who communicates clearly.


Step 2: Finalize Your Mortgage

Your lender will send the mortgage instructions directly to your lawyer or notary. At this stage:

  • You’ll provide proof of property insurance (lenders require this before releasing funds)
  • You’ll confirm your down payment and closing costs are available in your lawyer’s trust account
  • The lawyer will prepare all documents for your review and signature


Step 3: Pay Closing Costs

Closing costs typically range from 1.5% to 4% of the purchase price. These can include:

  • Legal fees
  • Title insurance
  • Land transfer tax (where applicable)
  • Adjustments for property taxes or utilities prepaid by the seller
  • Home inspection or appraisal fees (if not already paid)

Your lawyer will provide a final statement of adjustments so you know exactly how much is due on closing day.


Step 4: Sign the Paperwork

A few days before closing, you’ll meet with your lawyer or notary to sign all the necessary documents, including:

  • Mortgage agreement
  • Title transfer
  • Insurance confirmations
  • Statement of adjustments

Bring valid government-issued ID to this appointment.


Step 5: Transfer of Funds

On the day of closing:

  • Your lender sends the mortgage funds to your lawyer
  • Your lawyer combines these funds with your down payment and pays the seller
  • Legal ownership of the property is transferred into your name
  • The lender is registered on title as a secured creditor


Step 6: Get the Keys!

Once the paperwork is filed and the funds have cleared, your lawyer will confirm that the transaction is complete. You’ll then get the keys to your new home—officially making it yours.


The Bottom Line

The closing process is a series of important steps, but with the right team in place, it doesn’t have to be stressful. By working closely with your mortgage professional and lawyer, you’ll have guidance every step of the way—from signing the documents to turning the key in the front door.


If you’d like help preparing for the closing process—or want a clear breakdown of your own closing costs—connect with us today.


Shawn Johnson

Senior Mortgage Specialist

What You Need to Know About Mortgages and Parental Leave

By Shawn Johnson • August 5, 2026
If the title of this article caught your attention, chances are your family is growing. Congratulations. If you’re thinking now is the right time to move into a home that better fits your growing family—but you’re unsure how parental leave affects your ability to qualify for a mortgage—you’re in the right place. Here’s the good news. Qualifying for a mortgage while on parental leave is possible when it’s done correctly. When you work with an independent mortgage professional, lenders can often qualify you based on your return-to-work income , as long as you can provide documentation confirming you have guaranteed employment waiting for you. A word of caution If you walk into a bank branch and disclose that you’re currently on parental leave, there’s a chance the bank will only allow you to qualify using your parental leave income. That can significantly reduce your borrowing power. Parental leave income is typically limited to 55% of your previous earnings, up to a weekly maximum. Qualifying on that amount alone can restrict your options and impact the type of home you can purchase. Why lender choice matters One of the biggest advantages of working with an independent mortgage professional is choice . You’re not limited to one lender’s rules or products. Some lenders will allow you to qualify using 100% of your confirmed return-to-work income , which can make a meaningful difference in your approval amount and overall options. What you’ll need to qualify Most lenders will require an employment letter that includes: Employer name (preferably on company letterhead) Your job title Original start date (to confirm probation has been completed) Confirmed return-to-work date Guaranteed salary upon return Lenders want reassurance that your income will resume once parental leave ends. You may also be asked to provide income history from the past couple of years, which is standard for most mortgage applications. One important note Whether or not you actually return to work after parental leave is entirely your decision. From a mortgage perspective, qualification is based on having a confirmed position available to you at the time of approval. If you have questions about qualifying for a mortgage while on parental leave—or anything mortgage-related—please connect anytime. I’d be happy to walk you through your options and help you plan with confidence.

Co-Signing a Mortgage in Canada: Pros, Cons & What to Expect

By Shawn Johnson • July 29, 2026
Co-Signing a Mortgage in Canada: Pros, Cons & What to Expect Thinking about co-signing a mortgage? On the surface, it might seem like a simple way to help someone you care about achieve homeownership. But before you sign on the dotted line, it’s important to understand exactly what co-signing means—for them and for you. You’re Fully Responsible When you co-sign, your name is on the mortgage—and that makes you just as responsible as the primary borrower. If payments are missed, the lender won’t only go after them; they’ll come after you too. Missed payments or default can damage your credit score and put your financial health at risk. That’s why trust is key. If you’re going to co-sign, make sure you have a clear picture of the borrower’s ability to manage payments—and consider monitoring the account to protect yourself. You’re Committed Until They Can Stand Alone Co-signing isn’t temporary by default. Even once the initial mortgage term ends, you won’t automatically be removed. The borrower has to re-qualify on their own, and only then can your name be taken off. If they don’t qualify, you stay on the mortgage for another term. Before agreeing, talk openly about expectations: How long might you be on the mortgage? What’s the plan for eventually removing you? Having these conversations upfront prevents surprises later. It Affects Your Own Borrowing Power When lenders calculate your debt service ratios, the co-signed mortgage counts as your debt—even if you never make a payment on it. This could reduce how much you’re able to borrow in the future, whether it’s for your own home, an investment property, or even refinancing. If you see another mortgage in your future, you’ll want to consider how co-signing could limit your options. The Upside: Helping Someone Get Ahead On the positive side, co-signing can be life-changing for the borrower. You could be helping a family member or friend buy their first home, start building equity, or take an important step forward financially. If handled with clear expectations and trust, it can be a meaningful way to support someone you care about. The Bottom Line Co-signing a mortgage comes with both risks and rewards. It’s not a decision to take lightly, but with careful planning, transparency, and professional advice, it can be done responsibly. If you’re considering co-signing—or want to explore safer alternatives—let’s connect. I’d be happy to walk you through what to expect and help you decide if it’s the right move for you.