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The Mortgage Confirmation Letter is a crucial document in Canadian real estate financing that formally communicates the lender's approval of a mortgage loan and its specific terms. It is typically issued after a successful mortgage application and approval process, but before the final closing of the property transaction. This document serves multiple purposes: it confirms the lender's commitment to provide financing, details all relevant mortgage terms and conditions, and serves as a reference document for all parties involved in the transaction. The letter must comply with Canadian federal banking regulations and provincial property laws, and includes essential information such as the approved loan amount, interest rate, payment terms, conditions precedent to funding, and any special requirements. A Mortgage Confirmation Letter is particularly important as it allows borrowers to proceed with confidence in their property purchase and provides other stakeholders, such as real estate agents and lawyers, with the necessary financing confirmation to proceed with the transaction.

1. Letter Header: Includes date, recipient's name and address, property address, and reference numbers

2. Opening Statement: Formal confirmation of mortgage approval and reference to the application

3. Mortgage Details: Principal amount, interest rate, term, and amortization period

4. Payment Information: Payment amount, frequency, first payment date, and payment method

5. Interest Rate Terms: Type of rate (fixed/variable), rate details, and any rate guarantees

6. Property Information: Legal description of the property and confirmation of property value/purchase price

7. Closing Costs: Details of all associated fees, charges, and closing costs

8. Conditions: Any conditions that must be met before funding

9. Closing Statement: Validity period of the offer and contact information for questions

10. Signature Block: Lender's authorized signature, name, and title