31 July 2017
31 July 2017,
 Off

You’ve made a big decision:

You want to buy or maybe refinance a house. Now you need a mortgage. You’ve already made the best first step by contacting The Mortgage Professionals. Here is a list of some of the documents we may require from you to get the mortgage that works for you. Your Mortgage Professional can tell you which ones specifically that we will need for your situation. Let us know if you have any questions. We’re glad to be working with you.

Contents:

Employment Letter
Notice of Assessment (NOA), Past 2 Years
Paystub
Proof of CPP / OAS
Proof of disability / employer pension funds
Proof of Downpayment – gift
Proof of Downpayment – in savings
Proof of payment of debts (e.g. credit card, car loan, etc.)
T1 Generals, Past 2 Years
T4

Employment Letter:

A letter from the employer on employer letterhead confirming full time / non-probationary employment, hire date, position, and annual salary. The letter will need to be signed by a manager along with a name and contact information. The letter must be dated within 30 days of the mortgage application.

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Notice of Assessment (NOA), Past 2 Years:

NoAs can be printed off of CRA’s website if you have access. If you have money owing on your latest Notice of Assessment, we may have to show proof that it has been paid.

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Paystub:

1-2 recent paystubs dated within 30 days of the mortgage application or within 30 days of the mortgage closing.

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Proof of CPP / OAS:

Most recent T4 and 3 months of bank statements showing payments going into your account.

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Proof of disability / employer pension funds:

Letter or statement showing the disability or pension amount and confirming it is long-term (not temporary), most recent T4 and / or 3 months bank statements showing payments going into your account.

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Proof of Downpayment – gift:

If all or part of the downpayment is a gift, a template gift letter must be filled in and signed. This will be provided by your mortgage agent.

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Proof of Downpayment – in savings:

Downpayment in chequing, savings, investment or RRSP accounts must show 90 days history in statements prior to the closing date. Statements must show client’s full name or an account number which can be shown to belong to the applicant. If deposits have been made in the past 90 days, source of deposit must be shown (e.g. paystub, copy of cheque, etc.).

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Proof of payment of debts (e.g. credit card, car loan, etc.):

If you need to show proof of full or partial payment of a debt, please ensure you get proof in writing, showing the debt account number, the amount paid and your full name.

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T1 Generals, Past 2 Years:

Full T1 Generals including all statements (e.g. Statement of Business Activities or Statement of Real Estate Rentals, if applicable).

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T4:

Statement of Remuneration Paid for previous year.

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