To process your mortgage application, we will require the following support documents as soon as possible.
CONFIRMATION OF EMPLOYMENT
– Job letter, on employer’s letterhead showing; position, length of employment, amount of gross income and future prospects
CONFIRMATION OF INCOME
– 2 years T-4 slips (or page of Tax Returns that shows income) and one current pay stub
– copy of most recent Notice of Assessment confirming any/no tax balances owing
CONFIRMATION OF DOWN PAYMENT
– photocopy of monthly statement for the bank account the down payment is coming from, showing applicant’s name(s) and account number. Statements should be for recent three months, showing orderly accumulation of funds, if internet printouts are provided, your name and account number must be on the document to confirm ownership.
or – recent copy of R.R.S.P. statements
or – gift letter indicating down payment is a gift and non-repayable
NOTE: Some lenders require confirmation that the gifted funds are in the mortgage borrowers bank account prior to issuing the final approval.
or – Copy of Contract of Purchase and Sale for present home
and – Copy of mortgage statement showing total payout balance as of new completion date
If Business for Self
– three year income statements & balance sheets
– three year Revenue Canada Assessments
– three year tax filings ( income and expense pages only – T1 general)
Immediately upon acceptance of your offer we will need
– Copy of Contract of Purchase and Sale for new home
– if MLS listed – copy of MLS Listing for your new home
– if a detached home – copy of the Land Survey Certificate for new home (if applicable)
– if condo or townhouse – Lender may request Strata Document
– if low Loan to Value ratio – copy of Property Tax Assessment Notice for new home
– selection of Legal representative (sometimes from lender approved list)
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