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What Documentation Do I Need for a Mortgage? Documents that Are Usually Required to Get a Mortgage The required documents vary with each application. Generally, employment and source of down-payment is always verified. The following is a list of some of the different documents that may be required. 1. Letter from your Employer - letter must state your length of employment or start date, title or position and your annual gross income or hourly rate and how many hours per week you work. 2. Most recent pay stub. 3. Confirmation of down payment - one or more of the following: 3 months bank statements showing accumulation of savings
4. T-4's for the past 2 years (needed if you want to claim Part-time or overtime income) 5. Revenue Canada Notice of Assessment (NOA). NOA’s mailed to you after your income tax return has been processed for the past 2 or 3 years 6. Financial Statements for the past 2 or 3 years. This is required for Business for Self (Self-Employed) Applicants 7. T1 Generals 2 or 3 years. This is required for Business for Self (Self-Employed) Applicants 8. Copy of separation agreement, if applicable. 9. Copy of Bankruptcy Discharge Statement, if applicable. 10. Copy of Your Most Recent Mortgage Statement, if applicable. 11. Photocopy of 2 pieces of ID for each applicant and completed mortgage application. 12. A list of your addresses in the last 3 years. Note: If you need to obtain a copy of your NOA, you can contact Revenue Canada by calling 1-800-959-8281 or on their website at www.ccra.gc.ca and clicking on 'Forms & Publications' and use search feature for T1013 form which will allow another person to act on your behalf to obtain your NOA.
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Head Office: 300 Brunel Rd, Mississauga, ON L4Z 2C2 Phone: (905)-267-3535 Fax: (905)-290-1009 Toll Free Fax: 1-866-346-9277 info@rc-financial.com |
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