When looking to qualify for a mortgage, typically, a lender need to review four areas of your mortgage application:
Income
Credit
Down payment
Property
And the most common documents to prove that are:
For all the Applicants
1. Letter of Employment
2. Pay Stubs, the 2 most recent
3. T4 of the 2 previous years
4. T1 General of the 2 previous years
5. Notice of Assessments of the 2 previous years
6. Credit Report Equifax, full report
When applicant is Self-employment
1. Financial Statements
2. Commercial Licence
3. Articles of incorporation, in case of companies
When the Applicant is Borrowing Against Home Equity
(Refinance, HELOC or Reverse Mortgage)
1. Last Statement of your Property
2. Property Tax Bill
3. Mortgage Commitment
Get in touch
mortgages@adanaranda.ca