MORTGAGE APPLICATION DOCUMENT CHECK-LIST:
When you are buying a new home or refinancing your existing mortgage, some documentation is needed to support your mortgage request. By providing financial institute with the documents that have been indicated on his list, bank can finalize your mortgage more efficiently.
Buying a home?
Information that describes the property you are buying:
- Purchase and sale agreement
- MLS listing with photo
- Name, address, telephone number of your solicitor/notary
Confirmation of your down payment:
- Savings or investments statement from within the last 90 days
- Sale of an existing property — a copy of the sale & purchase agreement
- Gift letter
- Withdrawal from RRSP through Home Buyer’s Plan
- Copy of latest 2 pay slips or T4 slip
- Letter of employment
- T1 General and Notice of Assessment (NOA) for recent 2 years
Do you currently own your home?
Information that describes your existing property:
- Recent mortgage statement
- Current homeowner insurance policy
- Most recent property tax bill/statement
- Legal description of your property
Other information we may require
As part of your application process, bank will ask you questions relating to what you owe and own, what some of the projected expenses relating to the property are, such as taxes, heating costs and condo fees, and whether you will be using the property to generate income.
- Copy of void cheque