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Documents needed to get a mortgage
Nobody taught us how to read a credit score in high school either. This section is a place to try and answer every single question we've been asked over the years and give you a place to get answers.
Property Tax Statement A Property Tax Notice is a document you receive from your city or town annually for any home you own. If you are refinancing or buying a second property you will need to show...
Pre-Authorized Debit Form A Pre-Authorized Debit Form (PAD Form) allows your lender to automatically pull mortgage payments out of your bank account. For your Mortgage Broker to fill out this form ...
Home Insurance Your mortgage broker could ask for a copy of your home insurance. This might happen if you are refinancing or switching your mortgage. The reason we need proof of home insurance is s...
CCB The Canada Child Benefit is a tax-free monthly payment made to eligible families to help with the cost of raising children 18 years or younger. We can use Canadian Child Benefit (CCB) towards i...
Current Mortgage Statement If you are refinancing or selling your current home and purchasing a new one, the lender will require a copy of your current mortgage statement. They need this to confirm...
Appraisal An appraisal is a report written by an accredited appraiser to confirm the current market value of a home. Most often an appraisal is utilized when a client is refinancing their home, als...
Letter of Employment (LOE) A Letter of Employment is a written letter that is required for all clients who are currently employed by someone else, confirming details about their job and position. I...
Notice of Assessment (NOA) Your Notice of Assessment is the document you get back after filling your taxes. It shows if the information your tax preparer (or yourself) submitted, is the same inform...
Paystub When you receive a paycheque, you also will receive a paystub. The paystub shows how many hours you worked during that pay period. It will also show your salary or hourly rate, year-to-date...
T4 A T4 is a document you receive from your employer stating your total income earned for the year. In addition to the T4 your employer gives you, you can also get a copy off the myCRA portal. This...
Strata Documents Form B The form B contains information about the strata lot including the monthly strata fees, whether the owner has entered into an agreement with the strata corporation regardin...
Do you have the goods? This isn't anything new but a good reminder or resource for documents we need upfront once your client has an accepted offer. ** If the purchase contract references document...
Full T1 General A T1 General Form also known as Income Tax Return Benefit is a document Canadians use to file their personal income taxes. It is a summary of all other forms you complete when doing...
T5 A T5 is a statement of investment income Canadians would receive to report income earned through various investments. This income comes from stocks, dividend payments, savings accounts that gene...
Gift Letter for Gifted Down Payment If you are trying to buy a house and don't have enough saved for a down payment, or your family has money set aside to gift to you, or maybe you are receiving an...