Applying for a mortgage? If these apply to you start gathering them now to make for a smoother mortgage application.

Income

Employee

Job Letter from Employer - on company letter head, states your position, tenure, salary or hourly wage, guaranteed hours, any bonus component and signed off with contact number for confirmation

Pay stub - most recent pay stub within the last 30 days

T4 - most recent two years required if you earn overtime, bonus, or commission income along with pension income or are on contract

Self-Employed, Commission, Contract

T1 General - most recent two years personal returns, all pages including Statement of Business Activities and Real Estate Rentals if applicable

Notice of Assessments - most recent 2 years and if any income taxes owing confirmation they have been paid in full

Business

Articles of incorporation - all pages including certificate of incorporation, registrar of directors and current share structure

Articles of Amendment - if any changes since incorporation

Financial statements - most recent two years prepared by an accountant

Real Estate (already owned)

Property tax notice - most recent year

Mortgage - most recent mortgage and/or HELOC statement showing property address, balance, limit, rate, payment amount

Strata fee - most recent AGM to confirm payment amount

Rental income - all pages of current tenancy agreement

Down Payment / Assets

Own savings - 90 day history of bank statements confirming name and balance (chequing, savings, non-registered investments, TFSA, RRSP)

Sale of property - contract of sale including subject removal, confirmation of deposit into your account or confirmation via solicitor for net sale amount to be deposited

Borrowed - line of credit statement to confirm name, limit, balance, rate

Gift - each lender has it’s own gift letter that will be provided to be signed, confirmation of deposit to your account

Real Estate (property being purchased)

*your realtor will assist here

Contract of Purchase and Sale - all pages signed by all parties

MLS listing - if a private sale the name and contact of the sellers solicitor

Property Condition Disclosure Statement - all pages signed by all parties

Form B - strata property only

Depreciation Report - if noted on Form B as available

Annual General Meeting Minutes - most recent two years 

Other

Identification - two pieces of government issued ID, front and back

Separation agreement - all pages to confirm receipt of or payment for child or spousal support