Mortgage Documents

Mortgage Documents Needed

Mortgages can sometimes feel like endless stacks of paperwork, but being prepared in advance can save you time and stress! To help you get prepared, I have put together a must-have list of documents required for mortgage pre-approval and final financing approval.

Getting your mortgage pre-approved is a great way to make the mortgage process easier! Pre-approvals are a temporary agreement (typically valid for up to 120-days), that locks you in for a particular interest rate, based on your mortgage amount and the mortgage term. Don’t get confused though – a pre-approval does not mean you are approved, but it does make securing final financing much easier! Plus, a mortgage pre-approval can help you determine your budget and potential monthly mortgage payments, allowing you to shop within your means. 

In order to get pre-approved you will need to provide:

  • Identification
  • Proof of employment (letter from employer, previous pay stubs)
    • If self-employed you will need Notices of Assessment from the Canada Revenue Agency for the past two years
  • Proof you can pay for the down payment and closing costs (90 days of financial statements from bank accounts or investments)
  • Information about other assets, such as a car, cottage or boat
  • Information about debts or financial obligations
  • Good credit score (credit score of 680 is required to be approved for standard mortgage financing)

Having this paperwork ready in advance will make it that much easier to start the mortgage pre-approval process and begin hunting for your perfect home! If you have your documents prepared and are ready to talk mortgages, give me a call or set up a virtual appointment today so we can go over your information and help you on your way to your dream home. Or, start your application today using my online portal, and upload all your documents safely and securely!