Documents needed to apply for a mortgage.

Are you buying a home for the first time, refinancing your current home, or buying another property as an investment?

Lending institutes have stringent procedures for qualifying when someone applies for a mortgage, line of credit, or refinancing. 

You should always have the following documents ready:

1. Latest Employment letter 

2. Latest 2-3 pay stubs

3. T4 slips from your work for the last 2 to 3 years.

4. T1 Generals from your accountant for the last 2 to 3 years 

5. Notice of Assessment from Revenue Canada for at least the last 2 years. Please note: if you owe any money to Revenue Canada, settle the payment. 

6. RRSP contribution statements if you are a first-time buyer

7. Your FHSA Statement if you are a first-time buyer

8. Bank Statements from each bank you have accounts with.  

9. If you own any rental properties, make sure you have the Property Tax Bills that show the Assessment Value of the Property and lease Documents.

10. Copy of Child tax benefits if you are getting any of these benefits

Having these documents ready will help a lending institution provide you with an answer faster, thus reducing your stress.