Please find below a detailed list of documents that may be required during the mortgage application process

Identification

  1. Please provide 2 pieces of identification.  At least one (preferably both) must be government issued and include a photograph. Common identification documents include:

  • Drivers License (preferred)

  • Passport (preferred)

  • Healthcare card

  • Credit card

Income Documentation

In addition to the description of your last 3 years of employment documented on the application, proof of income will be required as follows:

  1. Letter of employment dated within 30 days of the offer to purchase (you can hold off on this until you are in the offer stage, but reach out to your HR or Payroll department to give them a heads up and get contact information so you can reach out to someone directly. The letter must include:

  • Start Date

  • Annual base salary or hourly rate

  • Hours worked per week (Full/Part Time)

  • Employment status (Temporary/Permanent)

  • Bonus information if applicable

  • Commission information if applicable

  • Job title

  • Manager name

  • All employer contact information (employer letter head)

It can be as simple as 2-3 sentences, and should be signed by the author.  

Lender will confirm employment details.

**NOTE**  If you are currently on probation consider working with your employer to change your status to regular or permanent status as many lenders will not consider probationary employment status.

  1. Your most recent 2 pay stubs (again hold off on these until you make an offer, but ensure you are able to access them!) This should back up the information on your Letter of Employment

  2. Your most recent two years T4 tax slips (can be found on CRA “My Account” I highly recommend getting access to this service).

  3. Your most recent two years Notice of Assessment (NOT your property taxes) (can be found on CRA “My Account”)

  4. Your most recent two years T1 General (can be found on CRA “My Account”)

For business income or self-employment income:

  1. Notice of Articles for corporations, showing shareholders

  2. Copy of business license for the current and previous year

  3. Most recent two years Notice of assessments showing claimed income

  4. Statement of CRA account showing there are no tax arrears

  5. Last 2 years of T1-Generals (CRA My Account)

  6. Corporate Search

  7. **2 years of CPA prepared financial statements may also be required

Other Required Documentation

  1. Signed Client Consent form

  2. Social Insurance Number

  3. A void cheque for the mortgage withdrawal account

  4. 3 Years of address information

  5. Purchase agreement + MLS highlight sheet (from realtor/builder)

  6. 3 Month account statements from source account for down payment confirmation clearly showing the full name of the client on the statements, as well as the down payment needed in the account for 90 days. If the name is not on the statements, we will require a screenshot of the profile page which shows the client's name, account number, and balance matching that of the statements presented. (if a gift, a lender specific gift letter, and confirmation of gift deposit will be required. In some cases where the gift is over 35K, the lender may ask to see proof that funds are in the donor’s account) 

  7. Name and phone number of the solicitor you would prefer to use. A recommendation can be made if you do not have one in particular that you wish to use. I have an excellent referral in this department who will keep things simple for all involved.

  8. If you are separated or divorced: a complete copy of the separation agreement. The purpose is to show support payments being made or being received.