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The Checklist

Getting a mortgage doesn't have to be complicated.

A common stumbling block people have is, "I don't know where to find that doc?". 

In my experience this can be avoided by showing you exactly what I am looking for with examples below.

Keep in mind, depending on your file, the lender may require additional documents.

step one: identification

 

As with any major financial transaction, we must first confirm you are who you say you are. Identification can be confirmed through:

  • Driver’s license

  • SIN card (social insurance number for yourself and your co-applicant)

step two: proof of income

 

If you are an employee of a company, this includes:

  • Letter of employment (LOE)

  • Most recent pay stub

  • Last 2 years of T4's

 

Keep in mind, your LOE must:

  • Be printed on the company letterhead, confirming your salary, guaranteed hours, wage, position title and start date.

  • Include contact information of the person signing.

 

If you are self-employed, you’ll need T1 generals, business registration and company financials if incorporated. The lender may also ask to see your account records or confirmation of direct deposit.

step three: bank statement confirming down payment

 

We require a 90-day bank statement confirming the down payment of your new purchase.

Keep in mind:

  • Your name should be on the document, along with an “account summary page” showing your accounts and account numbers to prove ownership. The summary page should connect your name to the account number if your name is not on the initial document.

  • It’s important you DO NOT move money around during this time. Doing so will require further explanation and proof of every big transaction.

If a portion or your down payment is coming from a TFSA or RSP we will need to see your last statement and a screenshot of recent activity.

step five: get approved!

Have your paperwork ready to go? You’re all set. Connect with us to initiate the pre-approval process. We’ll make sure you have your mortgage approval in hand within the next 48 hours.

What are you waiting for?

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