Here is list of documents that you will need to send to me for a mortgage pre-approval (for each applicant!):
 

  If you are on commission/work overtime/self-employed:

  • copy of drivers licence (front and back)
  • copy of passport or SIN card
  • full credit report from Equifax. You can get it here: https://www.consumer.equifax.ca/personal/
  • Notice of Assessment for 2018, 2019 and 2020 for every applicant
  • T1 General for 2018, 2019 and 2020
  • Articles of Incorporation or Business Licence (if applicable)
  • 6 Months Business Banking Statements
  • 2 recent pay stubs (if applicable)

     If you are on salary:


  • copy of drivers licence (front and back)
  • copy of passport or SIN card
  • full credit report from Equifax. You can get it here: https://www.consumer.equifax.ca/personal/
  • T4 for previous year
  • Letter of employment
  • 2 recent pay stubs
  • NOA (Notice of assessment) for previous year
  • Child benefits CRA statement (if applicable)

If you already have a property, you will need to send the following:

1. Property tax Bill for a current year

2. Mortgage statement    

 If you are retired/on pension:


Proof of Income and Assets


  •  Pension Income Documents:
  1. T4A Slip: This is a tax form showing pension income received.
  2. Pension Plan Statement: A statement from your pension provider confirming your pension payments.
  3. Notice of Assessment (NOA): Your most recent NOA from the Canada Revenue Agency (CRA) will show the pension income you reported.


  •  Bank & Investment Statements:
  1. Recent bank statements (typically 1-3 months) showing deposits from your pension and other income.
  2. Statements from any investment accounts, like RRSPs or TFSAs, to document your assets and down payment funds.


  •  Down Payment Evidence:
  1. Proof of funds for the down payment, which can include savings, RRSP withdrawals (if applicable), or sale of another property.
  2. A gift letter from a family member if a portion of the down payment is a gift.


Property-Related Documents


  1. Purchase Agreement: The final agreement for the property you are buying.
  2. Property Documents: Information about the property you are purchasing.


General Documents


  1. Identification: Valid government-issued photo ID with your current address.
  2. Credit Report: Lenders will check your credit score to ensure it's above the minimum requirement, usually 600.

SEND YOUR DOCUMENTS TO: [email protected]


Here is the link to calculators you can use to see different financial options and rates: 

https://alexprice.ca/mortgage-calculator
  

Here is the link to my YouTube channel where you can educate yourself on real estate purchase/sale process:

https://www.youtube.com/channel/UCDP_K6bnrr1sdEOaDYy_5kA/videos?

 

Please give me a call anytime if you have questions: 647-403-4282, Alex Price, Broker