Types Of Mortgage Income Verification

Buyers often ask and are curious about the types of income verification that Canadian lenders might ask of them? Below is a list of the various types of income(s) most financial institutions look for in a mortgage application:

Self Employed Income Verification:

1) Copies of  Driver’s License

2) 2017 / 2016 Complete Personal Tax Returns (T1 General)

3) 2017 / 2016 Notice of Assessment

4) Most recent two years Financial Statements

5) Bank Statements (verification of down payment)

6) Assets Verification

T4 Individuals Income Verification:

1) Copies of  Driver’s License

2) 2018 T4

3) 2017/2018 (when available) Notice of Assessment

4) Latest paystubs

5) Letter of Employment

6) Bank Statements (verification of down payment)

7) Assets Verification

Pension Income Verification:

1) Copies of Driver’s License

2) Pension Direct Deposit (two months consistent)

3) Bank Statements

4) Pension Pay Statement/Stub within last 30 days

5) 2018 T4A

~ Jason Neumann

Jason Neumann

Jason Neumann

REALTOR®
CENTURY 21 Assurance Realty Ltd.
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