In order to secure a quick mortgage approval, it is best to prepare & send all required documents before you begin writing offers. Please fax/email the listed documents to me at your soonest convenience:
Proof of Income
Salaried Employees:
- 2 recent pay stubs
- letter of employment with date of hire, position & compensation signed on company letterhead.
- letter of employment with date of hire, position & compensation signed on company letterhead.
- last 2 years’ T4 slips.
Self-Employed Clients (may vary depending on program):
- Last 2 years’ Notice of Assessment (NOA) or T1 General.
- Proof of Business: articles of incorporation
Proof of Down Payment & Closing Costs (1.5% of purchase price)
- Last 3 months of statements from account(s) down payment & closing costs will come from and/or signed gift letter with proof funds have been deposited in buyer’s account.
- copy of current rental agreements
- letter of economic rent from appraiser (if not tenanted)
- recent mortgage or loan statement(s)
To avoid any unnecessary delays, keep the following tips in mind:
-Please do not move your money around while your loan is in process.
-Avoid making any large purchases until after your loan closes, as this could endanger your approval. If necessary, please check with me before making any large transactions.
To ensure that your mortgage transaction goes smoothly, it’s best to be like Santa: have your list & check it twice. If you have an questions about this list, please do not hesitate to contact me directly.
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