Documents Required
Paperwork required for your Mortgage Application
When you apply for a mortgage, certain documents are required in order to process your application. After making your application, you may be asked to submit the following documents to your mortgage broker as soon as possible:
- Confirmation of Employment
- For salaried employment - employment letter stating job title, length of time on job and salary, and a recent pay stub.
- For hourly wage employment - employment letter stating job title, length of time on job, hourly rate, number of guaranteed hours of work, and a recent pay stub.
- For commissioned & self-employment - tax returns from the past 2 to 3 years (1st & 2nd pages and page showing expenses written off), financial statements from the past 2 to 3 years if self-employed. CCRA's Notice of Assessment may be required.
- Written confirmation of other income being used to support application (rental income, spousal support, government pensions, etc.)
- Confirmation of Down Payment
- Photocopy of bank statements.
- Gift letter - must state amount of gift and acknowledge that funds need not be repaid. (Pro Formas available.)
- Proof of inheritance receivable.
- Copy of Contract of Purchase and Sale of present home, and copy of mortgage statement showing current pay out balance (if applicable).
- Copy of Contract of Purchase and Sale of new home, including copy of property disclosure statement.
- Copy of appraisal (appraisal normally ordered by mortgage consultant or lender).
- Copy of divorce/separation agreement (if applicable).
