Mortgage Refinance Document Checklist

Important Disclaimer

This checklist is provided as a general guide to help you understand the typical documents required for a mortgage refinance application. Every borrowers situation is unique, and additional documentation may be required based on your specific

circumstances, employment situation, 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.

Property Documents

• Current mortgage statement showing:
• Outstanding balance
• Payment amount
• Payment frequency
• Current interest rate
• Current property tax bill or assessment
• Home insurance policy

If strata property:

• Current strata fee statement
• Strata insurance documentation
• Status certificate

If Consolidating Debts

• Recent statements for all debts to be paid out:
• Credit card statements
• Line of credit statements
• Personal loan statements
• Car loan statements
• Current balances for each debt
• Payout statements (if available)

Required Personal Documents

• 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.)

Additional Documentation (If Applicable)

If You Own Other Properties:

• Current mortgage statement(s)
• Property tax bill(s)
• Lease agreement(s) if any properties are rented
• Strata fee statements (if applicable)

If Receiving Additional Income:

If separated/divorced:

• Separation agreement
• Support payment documentation
• If receiving child support/benefits:
• Child support documentation
• Canada Child Benefit letter
• 3 months bank statements showing deposits

If receiving rental income:

• Current lease agreements
• 90 days bank statements showing rental deposits

Final Steps (To Be Arranged):

• Lawyer/Notary contact information
• FCT/FNF payout authorization form (if switching lenders – I will provide for signature)
• Updated property insurance with new lender listed as loss payee (if switching lenders)

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

* If you're planning to use the funds for renovations, we may need quotes or estimates

* Your privacy and security are our top priority

* Early document submission helps ensure a smooth refinance process

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