All approvals from the lenders come with some conditions. The conditions are usually that you or your lawyer provide the lender with documents to support the mortgage application submitted to them. It may be documents to support: income or down payment. It might also be appraisal or proof that your debts are paid down as per the application. Your Mortgage Agent must tell you what those conditions are so you know weather you can fulfill them or not. Good luck.

Hello Hazel, when you receive an approval from a Bank/Lender it always has some conditions that apply. For example, when you make an application for a mortgage your Mortgage Agent asks you the pertinent questions and sends the deal in to be approved. The approval is often conditional on proving the information given to them is true. Job letters, pay stubs, copy of your bank account statement showing your down payment, copy of your ID to prove your identity, etc... The banks are lending quite a bit of money here and they have to make sure that they are lending it based on true information about the borrower. Your Mortgage Agent should have collected as many documents as possible up-front to make sure that the bank is satisfied with the paperwork they have so when you waive your condition of finance on your offer to purchase you are doing so knowing the bank is going to be behind you all the way. The worst thing to happen is that you have a firm offer to purchase with no way out and the bank then decides they don`t like the contract agreement for your employment because there is a probationary period mentioned. This is just an example but conditions on an approval should be addressed as soon as possible, if the bank does have a problem then you will have time to approach another lender before closing. I would be happy to discuss this with you, or any reader, in more detail if you like. Please don`t hesitate to give me a call: Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 x 115 http://www.centum.ca/abraham_niyazi/ I deal with Banks/Lenders across Canada and have been in the industry for over 11 years.