What documents are required to get a mortgage in Canada?

Well, the good news is when you buy your new home through Houski, we automatically collect the majority of your required mortgage documentation for you, automatically.

So, you don't really need to know this stuff - unless you are officially a true mortgage nerd that's on a quest to impress your friends with your super cool mortgage knowledge. 😎

Keep in mind that you will need these documents for each person on the mortgage application, except for things like joint bank accounts or assets.

You will always need

Some personal identification:

If you are employed

...and the hours you work are guaranteed (for example, being on a salary):

  • Letter of employment from the company employing you
  • Recent paystub

...and the hours you work are part-time, seasonal, or in any way not guaranteed:

  • Letter of employment from the company employing you
  • Recent paystub
  • Last two years Notice of Assessments (you get mailed one of these each year after you file your taxes)

If you are self-employed

  • Last two years Notice of Assessments (you get mailed one of these each year after you file your taxes)
  • Last two years T1 Generals

If you receive COMmISSION

  • Last two years Notice of Assessments (you get mailed one of these each year after you file your taxes)
  • Last two years T4As

If you receive child support

  • Your divorce/separation agreement

If you receive a pension

  • Letter from pension provider
  • Proof of deposits (usually in the form of bank statements)

If USING MONEY FROM own corporation

  • Corporate articles/certificates
  • Corporate financial statements

If you receive CHILD BENEFITS

  • Children's birth certificates
  • Proof of deposits (usually in the form of bank statements) 

Down payment

  • Bank statements showing deposit in bank account.
  • Gift letter if any part of the deposit was gifted from someone else.
  • RRSP letter if using RRSP's as part of down payment (First Time Home Buyer's program).

Property

For each property you already own

  • Property tax statement
  • If property has a mortgage: Mortgage statements
  • If property is a rental: Lease agreement
  • If property has condo fees: Condo board letter verifying fees

For each property you are selling

  • Accepted purchase offer
  • Waivers indicating the buyer has financing in place and has removed their "condition of financing"

Phew, that's a lot of stuff to know!

If you have any questions, feel free to chat with us anytime.

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