Mortgage Purchase Document Checklist

Important Disclaimer

This checklist is provided as a general guide  to help you understand the typical documents required for a mortgage purchase application. Every borrowers situation is unique, and additional documentation may be required based on your specific circumstances, employment situation, down payment source, and chosen lenders requirements. This is not an exhaustive list, and the actual documents needed may vary. We will work with you to determine the exact documentation required for your

situation.

Purchase-Specific Documents

(typically these will be supplied by your realtor)

• Signed Purchase Contract/Offer to Purchase (all pages and schedules)
• MLS listing
• Copy of deposit cheque(s)
• Property tax assessment (if available)
• Strata documents (if applicable):
• Strata fee confirmation
• Status certificate
• Insurance documentation
• For new construction:
• New Home Warranty certificate
• Construction specifications
• Building plans
• Builders contract

Required Documents for Everyone

• Government-issued photo ID
• Void cheque or pre-authorized debit form
• Income Documentation
• If You're a Salaried Employee:
• Letter of employment on company letterhead (must include):
• Your position
• Length of employment
• Current salary
• Most recent pay stub
• Most recent Notice of Assessment from CRA

If You Have Variable Income (Hourly, Overtime, etc.):

• Letter of employment on company letterhead
• Most recent pay stub
• Last 2 years Notice of Assessments from CRA
• Last 2 years T4s

If Self-Employed:

• Last 2 years full T1 General tax returns (all pages)
• Last 2 years Notice of Assessments from CRA
• Statement of Account from CRA showing $0 balance
• Last 2 years company Financial Statements (if incorporated)
• 6 months of business bank statements
• Proof of self-employed status for 2+ years (Business License, Articles of Incorporation, etc.)

Down Payment Documentation

For any down payment source, we need a 90-day history showing:

If Using Savings/Investments:

• 90 days of bank statements showing account history
• Investment statements (if applicable)
• For any deposits over $1,000 (except regular pay), proof of source of funds
• If there are transfers between accounts, 90-day history for both accounts

If Using Gift Funds:

• Gift letter (we will provide this)
• Proof of deposit into your account
• Statement showing funds in gifters account (may be required)

If Using RRSP (First Time Home Buyers):

• RRSP statements showing available funds
• 90-day history of RRSP account

If Using Proceeds from Sale of Existing Home:

• Unconditional sale agreement with all waivers
• Current mortgage statement
• Proof of deposit from sale into your account (when available)

Additional Information (If Applicable):

• If you own other properties:
• Current mortgage statement(s)
• Property tax bill(s)
• Lease agreement(s) if any properties are rented
• Home insurance documentation
• If separated/divorced:
• Separation agreement
• If receiving child support/benefits:
• Child support documentation
• Canada Child Benefit letter
• 3 months bank statements showing deposits

Final Steps (To Be Arranged):

• Home insurance quote (with lender listed as loss payee)
• Lawyer/Notary contact information
• Property insurance information

Important Notes:

* All documents must have your name clearly shown

* Do not alter or black out any information on documents

* We may require additional documentation based on your specific situation

* Electronic copies are accepted

* Your privacy and security are our top priority

* Documents should be provided as soon as possible to ensure a smooth approval

process

Need help or have questions? Contact Tim Lyon directly at 778-988-8409