Whether you are a first time home buyer or you currently have a mortgage, you are required to provide documentation to apply for your mortgage. Below is a general list of documents that may required when you apply for a mortgage for your mortgage professional:
First Time Home Buyer purchasing a home?
Information that describes the property you are buying:
- Purchase and sale agreement
- MLS listing with photo
- Name, address, telephone number of your solicitor/notary
Confirmation of your down payment:
- Savings or investments statement from within the last 90 days
- Gift letter
- Withdrawal from RRSP through Home Buyer’s Plan
Employment and income proof:
Salaried:
- T4 (T4A for commission earning)
- Notice of Assessment
- Recent Pay Stub
- Income Tax Return (T1)
- Letter of Employment
Self-Employed:
- Personal Tax Returns for the past 3 years, including schedules
- Notice Of Assessment for business or personal
- Signed Income Statement & Balance Sheet
- Audited Financial Statement or Business Tax Return
- Personal credit score / Business credit score
- Articles of Incorporation
- Confirmation that HST/GST payments are up to date
- Contracts showing ongoing expected revenue
If you currently own your home
Information that describes your existing property:
- Recent mortgage statement
- Current homeowner insurance policy
- Legal description of your property
- Recent property tax bill/statement
Documentation can vary depending on your mortgage requirements. The mortgage brokers at Oakville Mortgage Team know what type of documents you will require and will walk you through the process.
